Carret Asset Management LLC Raises Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Carret Asset Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 62.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 735 shares of the company’s stock after buying an additional 283 shares during the period. Carret Asset Management LLC’s holdings in MercadoLibre were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MELI. Human Investing LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. grew its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $32,000. Finally, Mather Group LLC. grew its position in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of research analyst reports. Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report 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 target for the company in a report on Tuesday, January 21st. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Up 1.6 %

Shares of NASDAQ MELI opened at $2,021.37 on Friday. The company has a market cap of $102.48 billion, a P/E ratio of 53.62, a PEG ratio of 1.12 and a beta of 1.64. The firm has a 50-day simple moving average of $1,966.98 and a two-hundred day simple moving average of $1,969.77. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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

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.