Victory Capital Management Inc. Grows Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Victory Capital Management Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% during the fourth quarter, Holdings Channel reports. The firm owned 24,270 shares of the company’s stock after buying an additional 2,449 shares during the quarter. Victory Capital Management Inc.’s holdings in MercadoLibre were worth $38,141,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $28,000. Archer Investment Corp purchased a new position in shares of MercadoLibre during the 4th quarter worth approximately $31,000. Larson Financial Group LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $36,000. Blue Trust Inc. lifted its stake in MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares in the last quarter. Finally, Disciplined Equity Management Inc. acquired a new stake in MercadoLibre during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on MELI shares. Barclays decreased their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday, April 23rd. Wedbush restated an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Susquehanna increased their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,805.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,653.85 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a market cap of $83.85 billion, a PE ratio of 74.00, a P/E/G ratio of 1.09 and a beta of 1.45. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $1,500.17 and its 200-day simple moving average is $1,545.49.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The company’s revenue was up 36.0% on a year-over-year basis. During the same period last year, the business posted $3.97 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 34.46 EPS for the current 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.