NEOS Investment Management LLC Purchases 1,534 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

NEOS Investment Management LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 81.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,428 shares of the company’s stock after buying an additional 1,534 shares during the period. NEOS Investment Management LLC’s holdings in MercadoLibre were worth $5,829,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Human Investing LLC bought a new position in MercadoLibre in the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. grew its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its position in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $32,000. Finally, Mather Group LLC. lifted its stake in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Finally, Susquehanna lifted their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,095.85 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a fifty day moving average of $2,024.14 and a 200-day moving average of $1,974.34. The firm has a market capitalization of $106.25 billion, a P/E ratio of 55.59, a P/E/G ratio of 1.12 and a beta of 1.64.

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

MercadoLibre Profile

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.