Ameriprise Financial Inc. Increases Position in MercadoLibre, Inc. $MELI

Ameriprise Financial Inc. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,207 shares of the company’s stock after buying an additional 23,005 shares during the period. Ameriprise Financial Inc. owned approximately 0.58% of MercadoLibre worth $687,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quadcap Wealth Management LLC increased its holdings in shares of MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after purchasing an additional 5 shares during the period. PFW Advisors LLC lifted its holdings in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of MercadoLibre by 3.5% during the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares during the period. Wilkinson Global Asset Management LLC grew its position in MercadoLibre by 2.3% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock valued at $528,000 after buying an additional 5 shares during the last quarter. Finally, Hardy Reed LLC increased its stake in MercadoLibre by 4.0% in the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on MELI shares. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $2,650.00 to $2,100.00 in a research report on Thursday. Finally, BTIG Research dropped their target price on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

Read Our Latest Stock Report on MercadoLibre

Key Headlines Impacting MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

MercadoLibre Stock Down 0.6%

MELI stock opened at $1,670.00 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average price is $1,996.22 and its 200 day moving average price is $2,115.41. MercadoLibre, Inc. has a 52 week low of $1,631.18 and a 52 week high of $2,645.22. The company has a market cap of $84.67 billion, a P/E ratio of 42.39, a P/E/G ratio of 0.89 and a beta of 1.48.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.45 billion. During the same period last year, the firm earned $12.61 EPS. MercadoLibre’s revenue was up 44.6% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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