Jupiter Asset Management Ltd. Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Jupiter Asset Management Ltd. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 28.6% in the fourth quarter, Holdings Channel reports. The fund owned 18,232 shares of the company’s stock after selling 7,316 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in MercadoLibre were worth $31,002,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Knuff & Co LLC raised its holdings in MercadoLibre by 0.8% in the fourth quarter. Knuff & Co LLC now owns 4,804 shares of the company’s stock worth $8,169,000 after purchasing an additional 40 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in MercadoLibre by 123.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company’s stock valued at $247,000 after buying an additional 80 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in MercadoLibre by 7.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,605 shares of the company’s stock valued at $2,729,000 after buying an additional 114 shares during the last quarter. Prosperity Wealth Management Inc. boosted its position in MercadoLibre by 60.6% in the 4th quarter. Prosperity Wealth Management Inc. now owns 265 shares of the company’s stock worth $451,000 after purchasing an additional 100 shares in the last quarter. Finally, Natural Investments LLC purchased a new stake in MercadoLibre in the 4th quarter worth approximately $1,973,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,990.11 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm has a market capitalization of $100.89 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The stock’s 50-day simple moving average is $1,952.66 and its 200-day simple moving average is $1,969.27.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping 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 analyst estimates 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 research analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. The Goldman Sachs Group raised their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Barclays raised their target price 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. Finally, Wedbush lowered their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,402.81.

About MercadoLibre

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.