Andra AP fonden Makes New $5.44 Million Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Andra AP fonden bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,200 shares of the company’s stock, valued at approximately $5,441,000.

Several other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares during the period. FMR LLC raised its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. State Street Corp lifted its position in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP grew its holdings in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of MercadoLibre by 1.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after purchasing an additional 3,710 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Wedbush reduced their price target 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. Barclays boosted their price objective 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. Bank of America raised their target price 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, Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,009.34 on Friday. The business has a 50 day moving average of $1,942.41 and a 200-day moving average of $1,969.92. The company has a market capitalization of $101.87 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. 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 (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) 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 analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.