Rathbones Group PLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Rathbones Group PLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,724 shares of the company’s stock after purchasing an additional 1,084 shares during the period. Rathbones Group PLC’s holdings in MercadoLibre were worth $16,535,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MELI. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $565,306,000. Norges Bank purchased a new stake in MercadoLibre in the fourth quarter worth $383,051,000. Strategic Financial Concepts LLC lifted its position in shares of MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after purchasing an additional 181,849 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre during the third quarter valued at $114,417,000. Finally, Coronation Fund Managers Ltd. boosted its stake in shares of MercadoLibre by 130.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock valued at $131,747,000 after purchasing an additional 43,836 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Wedbush lowered their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Trading Down 2.5 %

NASDAQ MELI opened at $1,794.73 on Tuesday. The stock has a market cap of $90.99 billion, a P/E ratio of 47.61, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a fifty day simple moving average of $2,035.87 and a two-hundred day simple moving average of $1,964.70.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 the consensus estimate of $5.94 billion. On average, analysts forecast 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.