MMA Asset Management LLC Acquires Shares of 300 MercadoLibre, Inc. (NASDAQ:MELI)

MMA Asset Management LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 300 shares of the company’s stock, valued at approximately $510,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in MercadoLibre during the third quarter valued at $114,417,000. Principal Financial Group Inc. raised its position in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. KBC Group NV raised its position in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Nordea Investment Management AB raised its position in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its position in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup decreased their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,385.94.

MercadoLibre Trading Down 0.4 %

MercadoLibre stock opened at $2,121.87 on Friday. The business has a 50-day simple moving average of $1,909.95 and a two-hundred day simple moving average of $1,967.18. The company has a market cap of $107.57 billion, a P/E ratio of 56.28, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Analysts predict that MercadoLibre, Inc. will post 43.96 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.