AssuredPartners Investment Advisors LLC Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

AssuredPartners Investment Advisors LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 707 shares of the company’s stock, valued at approximately $1,202,000.

Several other hedge funds also recently made changes to their positions in the company. NEOS Investment Management LLC lifted its stake in MercadoLibre by 81.0% during the fourth quarter. NEOS Investment Management LLC now owns 3,428 shares of the company’s stock worth $5,829,000 after purchasing an additional 1,534 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in shares of MercadoLibre by 76.2% in the 4th quarter. UniSuper Management Pty Ltd now owns 16,200 shares of the company’s stock worth $27,547,000 after buying an additional 7,005 shares during the last quarter. Sava Infond d.o.o. acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $9,114,000. Artisan Partners Limited Partnership grew its position in shares of MercadoLibre by 10.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 162,169 shares of the company’s stock valued at $275,759,000 after buying an additional 14,979 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MercadoLibre by 6.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 36,637 shares of the company’s stock worth $67,198,000 after acquiring an additional 2,334 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,074.97 on Thursday. 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 capitalization of $105.19 billion, a PE ratio of 55.04, a P/E/G ratio of 1.12 and a beta of 1.64. The company’s 50 day simple moving average is $2,018.97 and its 200 day simple moving average is $1,973.49. 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 (NASDAQ:MELI) last issued its quarterly earnings results 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. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MELI shares. Cantor Fitzgerald upped their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted 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. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, 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 report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.