Cerity Partners LLC Buys 409 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,274 shares of the company’s stock after acquiring an additional 409 shares during the period. Cerity Partners LLC’s holdings in MercadoLibre were worth $3,574,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $28,000. Proffitt & Goodson Inc. bought a new position in MercadoLibre in the third quarter worth approximately $32,000. Castleview Partners LLC raised its stake in MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after buying an additional 10 shares in the last quarter. NBC Securities Inc. bought a new position in MercadoLibre in the third quarter worth approximately $35,000. Finally, Blue Trust Inc. raised its stake in MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after buying an additional 9 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MELI shares. Citigroup reduced their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,806.15.

MercadoLibre Price Performance

Shares of MELI opened at $1,397.86 on Thursday. The firm has a market capitalization of $70.87 billion, a PE ratio of 71.54, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company’s fifty day moving average price is $1,574.80 and its 200-day moving average price is $1,523.84.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.25 earnings per share. On average, equities research analysts predict that MercadoLibre, Inc. will post 35.89 EPS 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.