Runnymede Capital Advisors Inc. Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Runnymede Capital Advisors Inc. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 43 shares of the company’s stock, valued at approximately $73,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. FMR LLC raised its position in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. State Street Corp raised its position in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after acquiring an additional 12,000 shares in the last quarter. Wellington Management Group LLP raised its position in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre in the 4th quarter worth approximately $565,306,000. Finally, Royal London Asset Management Ltd. raised its position in shares of MercadoLibre by 8.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company’s stock worth $438,232,000 after acquiring an additional 21,063 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MELI. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group raised their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research report on Monday, March 3rd. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Cantor Fitzgerald raised their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Barclays raised their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Performance

MELI stock opened at $2,095.27 on Friday. The company has a market cap of $106.22 billion, a P/E ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s fifty day moving average price is $1,997.59 and its 200-day moving average price is $1,970.94.

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, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for 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%. On average, equities 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.