MercadoLibre, Inc. $MELI is FLP Wealth Management LLC’s Largest Position

FLP Wealth Management LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,071 shares of the company’s stock after selling 3,951 shares during the period. MercadoLibre makes up 20.2% of FLP Wealth Management LLC’s portfolio, making the stock its biggest position. FLP Wealth Management LLC’s holdings in MercadoLibre were worth $20,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of MercadoLibre by 780.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 44 shares of the company’s stock valued at $89,000 after acquiring an additional 39 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $987,000. Quintet Private Bank Europe S.A. grew its stake in MercadoLibre by 33.3% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 168 shares of the company’s stock valued at $338,000 after purchasing an additional 42 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $201,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $685,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. BTIG Research cut their price target on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating on the stock in a report on Friday, March 20th. Wedbush reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Finally, Cantor Fitzgerald dropped 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 report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,708.67.

MercadoLibre Stock Performance

MELI stock opened at $1,715.52 on Friday. The stock’s 50 day simple moving average is $1,861.92 and its 200 day simple moving average is $2,044.44. MercadoLibre, Inc. has a 12-month low of $1,593.21 and a 12-month high of $2,645.22. The firm has a market cap of $86.98 billion, a P/E ratio of 43.54, a P/E/G ratio of 0.90 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $12.61 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company Profile

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.