Brown Brothers Harriman & Co. Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Brown Brothers Harriman & Co. lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122 shares of the company’s stock after selling 66 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in MercadoLibre were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in MercadoLibre by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock worth $404,000 after acquiring an additional 21 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $273,000. Financial Counselors Inc. bought a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $207,000. Erste Asset Management GmbH purchased a new stake in MercadoLibre during the 3rd quarter valued at $9,703,000. Finally, Paloma Partners Management Co lifted its position in MercadoLibre by 42.3% in the third quarter. Paloma Partners Management Co now owns 279 shares of the company’s stock worth $572,000 after buying an additional 83 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MELI. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Barclays upped their price objective on 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 issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

Shares of MELI opened at $1,950.87 on Tuesday. The stock has a market capitalization of $98.90 billion, a PE ratio of 51.75, a PEG ratio of 1.12 and a beta of 1.64. The company has a 50 day moving average price of $2,030.68 and a 200-day moving average price of $1,972.33. 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 fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.