Moran Wealth Management LLC Sells 6 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Moran Wealth Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 413 shares of the company’s stock after selling 6 shares during the period. Moran Wealth Management LLC’s holdings in MercadoLibre were worth $702,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Swedbank AB boosted its holdings in shares of MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after buying an additional 73,336 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in MercadoLibre in the third quarter valued at $293,000. Assetmark Inc. grew its position in shares of MercadoLibre by 11.1% in the 3rd quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock valued at $8,294,000 after acquiring an additional 404 shares during the period. Atria Investments Inc increased its stake in shares of MercadoLibre by 5.3% during the 3rd quarter. Atria Investments Inc now owns 3,105 shares of the company’s stock worth $6,371,000 after purchasing an additional 157 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its holdings in shares of MercadoLibre by 15.9% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 160 shares of the company’s stock valued at $328,000 after purchasing an additional 22 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Susquehanna lifted their price objective 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. Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Up 2.3 %

Shares of NASDAQ MELI opened at $1,990.11 on Wednesday. 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 moving average is $1,952.66 and its 200 day moving average is $1,969.27. 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 stock has a market capitalization of $100.89 billion, a P/E ratio of 52.79, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results 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. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side 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.