NFP Retirement Inc. Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

NFP Retirement Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% in the fourth quarter, Holdings Channel reports. The firm owned 185 shares of the company’s stock after selling 9 shares during the period. NFP Retirement Inc.’s holdings in MercadoLibre were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealthfront Advisers LLC purchased a new stake in MercadoLibre during the fourth quarter worth approximately $565,306,000. Norges Bank purchased a new position in shares of MercadoLibre in the 4th quarter valued at $383,051,000. Strategic Financial Concepts LLC lifted its holdings in shares of MercadoLibre by 169,952.3% during 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. Coronation Fund Managers Ltd. boosted its position in MercadoLibre by 130.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 77,478 shares of the company’s stock worth $131,747,000 after purchasing an additional 43,836 shares during the period. Finally, Nordea Investment Management AB increased its holdings in MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MELI shares. Morgan Stanley reduced their price objective on MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating on the stock in a research note on Thursday. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Bank of America lifted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $2,409.69.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,996.95 on Friday. The stock has a market capitalization of $101.24 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company’s 50-day simple moving average is $2,036.16 and its 200-day simple moving average is $1,958.91. 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 (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

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.