Pitcairn Co. Acquires 119 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Pitcairn Co. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 42.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401 shares of the company’s stock after acquiring an additional 119 shares during the quarter. Pitcairn Co.’s holdings in MercadoLibre were worth $682,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $565,306,000. Norges Bank acquired a new position in MercadoLibre in the 4th quarter valued at $383,051,000. Strategic Financial Concepts LLC raised its holdings in MercadoLibre by 169,952.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares in the last quarter. 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, Public Employees Retirement System of Ohio bought a new position in shares of MercadoLibre in the third quarter worth $114,417,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,841.29 on Friday. The business has a 50-day moving average of $2,036.90 and a 200-day moving average of $1,968.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $93.35 billion, a price-to-earnings ratio of 48.84, a price-to-earnings-growth 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.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. 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 note on Friday, February 21st. Susquehanna lifted their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Barclays boosted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price 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.