MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,476 shares of the company’s stock after purchasing an additional 391 shares during the period. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $11,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Human Investing LLC acquired a new stake in MercadoLibre in the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $32,000. Finally, Mather Group LLC. lifted its position in shares of MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 3.2 %

Shares of NASDAQ MELI opened at $2,065.94 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The firm has a fifty day moving average of $1,984.29 and a 200-day moving average of $1,970.03. The stock has a market capitalization of $104.74 billion, a PE ratio of 54.80, a P/E/G ratio of 1.12 and a beta of 1.64. 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 announced 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, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Raymond James upgraded shares of 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 shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Barclays lifted their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and a consensus target price 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.