Meeder Advisory Services Inc. Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Meeder Advisory Services Inc. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 830 shares of the company’s stock after buying an additional 124 shares during the quarter. Meeder Advisory Services Inc.’s holdings in MercadoLibre were worth $1,411,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares during the period. Paloma Partners Management Co grew its position in MercadoLibre by 42.3% in the 3rd quarter. Paloma Partners Management Co now owns 279 shares of the company’s stock valued at $572,000 after buying an additional 83 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in MercadoLibre in the 3rd quarter valued at $2,172,000. Holocene Advisors LP purchased a new position in MercadoLibre during the 3rd quarter worth $5,118,000. Finally, Hilltop Holdings Inc. lifted its stake in shares of MercadoLibre by 9.1% in the 3rd quarter. Hilltop Holdings Inc. now owns 312 shares of the company’s stock worth $640,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MELI. The Goldman Sachs Group increased their price target 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. Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two 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, MercadoLibre currently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Up 1.0 %

Shares of NASDAQ:MELI opened at $1,934.03 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $98.05 billion, a P/E ratio of 51.30, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock’s fifty day simple moving average is $2,034.60 and its 200-day simple moving average is $1,970.61.

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

MercadoLibre Company 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.