Assetmark Inc. Sells 1,564 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Assetmark Inc. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 38.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,478 shares of the company’s stock after selling 1,564 shares during the period. Assetmark Inc.’s holdings in MercadoLibre were worth $4,214,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MELI. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre during the 3rd quarter valued at about $114,417,000. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV boosted its stake in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MELI. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Bank of America lifted their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Barclays lifted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Down 1.8 %

Shares of MercadoLibre stock opened at $2,009.34 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $101.87 billion, a PE ratio of 53.30, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a 50-day simple moving average of $1,942.41 and a two-hundred day simple moving average of $1,969.92.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.