Gulf International Bank UK Ltd Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

Gulf International Bank UK Ltd reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,537 shares of the company’s stock after selling 39 shares during the quarter. Gulf International Bank UK Ltd’s holdings in MercadoLibre were worth $6,014,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Planning Capital Management Corp lifted its holdings in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP raised its position in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after buying an additional 5 shares during the last quarter. Nvwm LLC lifted its stake in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares during the period. 1620 Investment Advisors Inc. boosted its position in MercadoLibre by 3.7% during the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after acquiring an additional 7 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its stake in MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 3.1 %

Shares of NASDAQ MELI opened at $2,129.80 on Friday. The stock has a fifty day moving average price of $1,901.92 and a 200 day moving average price of $1,965.30. The company has a market cap of $107.97 billion, a P/E ratio of 56.49, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The business 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%. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays raised their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday. 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 stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $2,385.94.

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.