SlateStone Wealth LLC Sells 14 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

SlateStone Wealth LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 981 shares of the company’s stock after selling 14 shares during the quarter. SlateStone Wealth LLC’s holdings in MercadoLibre were worth $1,668,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre during the third quarter valued at $114,417,000. Principal Financial Group Inc. boosted its position in shares of MercadoLibre by 20.9% during 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 in the last quarter. Nordea Investment Management AB boosted its position in shares of MercadoLibre by 37.8% during 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 in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after purchasing an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of MercadoLibre by 40.0% during 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 in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.6 %

Shares of MELI stock opened at $2,021.37 on Friday. The company has a 50 day moving average of $1,966.98 and a 200-day moving average of $1,969.31. 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, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The firm has a market cap of $102.48 billion, a P/E ratio of 53.62, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MELI. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group upped their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average price target of $2,402.81.

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.