Harvest Fund Management Co. Ltd Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Harvest Fund Management Co. Ltd raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,984 shares of the company’s stock after acquiring an additional 574 shares during the period. Harvest Fund Management Co. Ltd’s holdings in MercadoLibre were worth $5,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MELI. Swedbank AB increased its holdings in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in MercadoLibre by 19.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 572 shares of the company’s stock valued at $1,174,000 after acquiring an additional 94 shares during the last quarter. Empowered Funds LLC increased its holdings in MercadoLibre by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 697 shares of the company’s stock valued at $1,430,000 after acquiring an additional 35 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in MercadoLibre by 5.8% in the 3rd quarter. Meeder Advisory Services Inc. now owns 706 shares of the company’s stock valued at $1,449,000 after acquiring an additional 39 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Barclays boosted their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. The Goldman Sachs Group boosted 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. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, Susquehanna boosted 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. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,002.80 on Wednesday. The stock has a market cap of $101.54 billion, a price-to-earnings ratio of 53.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a 50-day moving average of $1,977.75 and a two-hundred day moving average of $1,969.35.

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

MercadoLibre Profile

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.