Dorsey Wright & Associates Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Dorsey Wright & Associates trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,417 shares of the company’s stock after selling 427 shares during the period. Dorsey Wright & Associates’ holdings in MercadoLibre were worth $2,410,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MELI. Wealthfront Advisers LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $565,306,000. Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth about $383,051,000. Strategic Financial Concepts LLC lifted its holdings in shares of MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after purchasing an additional 181,849 shares in the last quarter. Wellington Management Group LLP grew its position in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre during the 3rd quarter worth approximately $114,417,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MELI shares. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Bank of America raised their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Wedbush cut their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Finally, New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two research 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,048.07 on Friday. 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, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The firm has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The business’s 50-day simple moving average is $2,028.39 and its 200-day simple moving average is $1,974.17.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.