Commonwealth Equity Services LLC Purchases 45 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Commonwealth Equity Services LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,403 shares of the company’s stock after buying an additional 45 shares during the period. Commonwealth Equity Services LLC’s holdings in MercadoLibre were worth $14,289,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Balboa Wealth Partners increased its holdings in shares of MercadoLibre by 38.1% in the fourth quarter. Balboa Wealth Partners now owns 468 shares of the company’s stock worth $796,000 after acquiring an additional 129 shares in the last quarter. Bennbridge Ltd acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $23,782,000. Erste Asset Management GmbH increased its stake in MercadoLibre by 129.9% during the 4th quarter. Erste Asset Management GmbH now owns 10,797 shares of the company’s stock worth $18,674,000 after purchasing an additional 6,101 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in MercadoLibre by 1.4% during the 4th quarter. Achmea Investment Management B.V. now owns 3,623 shares of the company’s stock worth $6,160,000 after buying an additional 51 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in MercadoLibre by 274.1% in the fourth quarter. Rakuten Securities Inc. now owns 101 shares of the company’s stock valued at $172,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MELI. Citigroup lowered their price objective on shares of 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. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Bank of America upped their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Up 4.2 %

Shares of MELI stock opened at $2,106.46 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock has a market cap of $106.79 billion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.12 and a beta of 1.64. The firm’s 50-day moving average is $1,973.12 and its 200-day moving average is $1,969.76. 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 (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.