MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Portland Global Advisors LLC

Portland Global Advisors LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,040 shares of the company’s stock after acquiring an additional 70 shares during the quarter. Portland Global Advisors LLC’s holdings in MercadoLibre were worth $5,169,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MELI. Thrivent Financial for Lutherans grew its stake in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after buying an additional 21 shares in the last quarter. Townsquare Capital LLC lifted its stake in MercadoLibre by 4.7% during the third quarter. Townsquare Capital LLC now owns 1,782 shares of the company’s stock worth $3,657,000 after purchasing an additional 80 shares during the last quarter. Bridgewater Associates LP boosted its holdings in shares of MercadoLibre by 17.0% in the 3rd quarter. Bridgewater Associates LP now owns 1,837 shares of the company’s stock valued at $3,769,000 after buying an additional 267 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of MercadoLibre during the third quarter worth about $273,000. Finally, Fiduciary Trust Co increased its position in MercadoLibre by 16.1% during the third quarter. Fiduciary Trust Co now owns 511 shares of the company’s stock worth $1,049,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.3 %

Shares of MercadoLibre stock opened at $2,048.07 on Friday. The business has a 50 day moving average price of $2,028.39 and a 200 day moving average price of $1,974.17. The company has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. Susquehanna increased 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 note on Friday, February 21st. Wedbush dropped their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Bank of America boosted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group raised their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.