1620 Investment Advisors Inc. Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

1620 Investment Advisors Inc. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 203 shares of the company’s stock after purchasing an additional 5 shares during the period. 1620 Investment Advisors Inc.’s holdings in MercadoLibre were worth $346,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. TD Private Client Wealth LLC grew its stake in MercadoLibre by 32.0% during the fourth quarter. TD Private Client Wealth LLC now owns 66 shares of the company’s stock worth $112,000 after buying an additional 16 shares during the period. Independent Solutions Wealth Management LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $1,396,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of MercadoLibre by 25.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 839 shares of the company’s stock valued at $1,427,000 after purchasing an additional 171 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in shares of MercadoLibre by 25.9% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 4,799 shares of the company’s stock valued at $8,160,000 after purchasing an additional 987 shares during the period. Finally, Whittier Trust Co. boosted its stake in shares of MercadoLibre by 23.3% in the fourth quarter. Whittier Trust Co. now owns 1,607 shares of the company’s stock valued at $2,733,000 after purchasing an additional 304 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,067.57 on Friday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a 50-day moving average of $1,990.86 and a two-hundred day moving average of $1,970.70. The stock has a market cap of $104.82 billion, a price-to-earnings ratio of 54.84, a PEG 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 (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates 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 expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. 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 report on Monday, January 6th. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average 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.