MercadoLibre, Inc. (NASDAQ:MELI) Stake Increased by Capital Research Global Investors

Capital Research Global Investors increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,415,815 shares of the company’s stock after buying an additional 179,807 shares during the quarter. Capital Research Global Investors owned 4.76% of MercadoLibre worth $4,108,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital World Investors boosted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. First Trust Advisors LP lifted its position in shares of MercadoLibre by 25.1% in the fourth quarter. First Trust Advisors LP now owns 13,004 shares of the company’s stock worth $22,113,000 after purchasing an additional 2,609 shares in the last quarter. Infusive Asset Management Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $401,000. Capital International Ltd. CA increased its stake in MercadoLibre by 20.3% in the 4th quarter. Capital International Ltd. CA now owns 15,909 shares of the company’s stock valued at $27,052,000 after buying an additional 2,683 shares during the period. Finally, Capital Group Investment Management PTE. LTD. increased its stake in MercadoLibre by 18.3% in the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 3,381 shares of the company’s stock valued at $5,749,000 after buying an additional 524 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,099.37 on Friday. The business’s fifty day moving average price is $2,043.29 and its two-hundred day moving average price is $1,960.13. 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, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The stock has a market capitalization of $106.43 billion, a price-to-earnings ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share 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 for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MELI shares. Benchmark assumed coverage on shares of MercadoLibre in a report on Tuesday. They set a “buy” rating and a $2,500.00 price target on the stock. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Bank of America increased their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average price target of $2,415.94.

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.