707 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by AssuredPartners Investment Advisors LLC

AssuredPartners Investment Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 707 shares of the company’s stock, valued at approximately $1,202,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. NEOS Investment Management LLC grew its holdings in shares of MercadoLibre by 81.0% in the 4th quarter. NEOS Investment Management LLC now owns 3,428 shares of the company’s stock worth $5,829,000 after acquiring an additional 1,534 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of MercadoLibre by 76.2% in the 4th quarter. UniSuper Management Pty Ltd now owns 16,200 shares of the company’s stock valued at $27,547,000 after purchasing an additional 7,005 shares during the period. Sava Infond d.o.o. purchased a new position in MercadoLibre in the 4th quarter worth about $9,114,000. Artisan Partners Limited Partnership raised its holdings in MercadoLibre by 10.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 162,169 shares of the company’s stock worth $275,759,000 after buying an additional 14,979 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in MercadoLibre by 6.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,637 shares of the company’s stock valued at $67,198,000 after buying an additional 2,334 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MELI. Wedbush dropped their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Susquehanna lifted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Barclays increased their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,074.97 on Thursday. The business’s 50-day simple moving average is $2,018.97 and its 200-day simple moving average is $1,973.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The firm has a market cap of $105.19 billion, a price-to-earnings ratio of 55.04, a P/E/G ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share 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.