The Manufacturers Life Insurance Company Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

The Manufacturers Life Insurance Company boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,959 shares of the company’s stock after purchasing an additional 898 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $39,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $225,000. KBC Group NV grew its position in shares of MercadoLibre by 8.8% in the 4th quarter. KBC Group NV now owns 19,122 shares of the company’s stock worth $30,051,000 after acquiring an additional 1,546 shares in the last quarter. California State Teachers Retirement System grew its position in shares of MercadoLibre by 5.9% in the 4th quarter. California State Teachers Retirement System now owns 64,260 shares of the company’s stock worth $100,987,000 after acquiring an additional 3,577 shares in the last quarter. Martin Currie Ltd. grew its position in shares of MercadoLibre by 59.2% in the 4th quarter. Martin Currie Ltd. now owns 621 shares of the company’s stock worth $976,000 after acquiring an additional 231 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its position in shares of MercadoLibre by 166.7% in the 4th quarter. FinTrust Capital Advisors LLC now owns 32 shares of the company’s stock worth $50,000 after acquiring an additional 20 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 1.6 %

Shares of MercadoLibre stock opened at $1,604.90 on Thursday. The business’s fifty day moving average price is $1,569.69 and its two-hundred day moving average price is $1,603.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The company has a market capitalization of $81.37 billion, a P/E ratio of 71.81, a PEG ratio of 1.19 and a beta of 1.60. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the previous year, the business earned $3.97 EPS. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MELI shares. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank upgraded 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. Barclays boosted their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and boosted their price objective for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

Read Our Latest Stock Analysis on MercadoLibre

MercadoLibre Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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