Alliancebernstein L.P. Has $215.78 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Alliancebernstein L.P. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,895 shares of the company’s stock after acquiring an additional 29,529 shares during the quarter. Alliancebernstein L.P. owned 0.25% of MercadoLibre worth $215,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MELI. Arrowstreet Capital Limited Partnership boosted its holdings in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after purchasing an additional 2,048 shares during the period. Schroder Investment Management Group raised its position in shares of MercadoLibre by 9.4% during the fourth quarter. Schroder Investment Management Group now owns 443,156 shares of the company’s stock valued at $753,560,000 after buying an additional 38,261 shares during the last quarter. State Street Corp lifted its stake in shares of MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares during the period. Wellington Management Group LLP grew its position in MercadoLibre by 8.9% during the fourth quarter. Wellington Management Group LLP now owns 380,956 shares of the company’s stock worth $647,793,000 after buying an additional 31,278 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in MercadoLibre during the fourth quarter valued at about $565,306,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,950.87 on Tuesday. The business has a fifty day moving average of $2,030.68 and a 200-day moving average of $1,972.33. 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 twelve month low of $1,324.99 and a twelve month high of $2,374.54. The firm has a market cap of $98.90 billion, a PE ratio of 51.75, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on MELI shares. Bank of America raised their price objective 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. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Wedbush lowered their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Cantor Fitzgerald raised their price objective 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, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two equities 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’s stock. According to MarketBeat, MercadoLibre has an average rating of “Buy” and a consensus price target of $2,402.81.

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.