Portland Global Advisors LLC Buys 70 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Portland Global Advisors LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,040 shares of the company’s stock after acquiring an additional 70 shares during the quarter. Portland Global Advisors LLC’s holdings in MercadoLibre were worth $5,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Schroder Investment Management Group raised its stake in shares of MercadoLibre by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 443,156 shares of the company’s stock worth $753,560,000 after buying an additional 38,261 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after buying an additional 2,048 shares during the period. Strategy Asset Managers LLC increased its stake in MercadoLibre by 5.2% in the 4th quarter. Strategy Asset Managers LLC now owns 1,997 shares of the company’s stock worth $3,396,000 after buying an additional 99 shares in the last quarter. Allianz SE bought a new stake in MercadoLibre during the fourth quarter valued at about $2,705,000. Finally, Allstate Corp purchased a new position in shares of MercadoLibre in the fourth quarter valued at about $2,307,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,048.07 on Friday. The business’s 50-day moving average is $2,028.39 and its two-hundred day moving average is $1,974.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

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

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.