Titleist Asset Management LLC Trims Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Titleist Asset Management LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 39.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,141 shares of the company’s stock after selling 1,407 shares during the period. Titleist Asset Management LLC’s holdings in MercadoLibre were worth $3,641,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of MercadoLibre by 42.9% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 10,000 shares of the company’s stock valued at $17,004,000 after buying an additional 3,000 shares during the last quarter. Russell Investments Group Ltd. grew its stake in MercadoLibre by 10.7% in the fourth quarter. Russell Investments Group Ltd. now owns 76,346 shares of the company’s stock worth $129,958,000 after purchasing an additional 7,380 shares during the period. Ted Buchan & Co lifted its position in MercadoLibre by 10.6% during the 4th quarter. Ted Buchan & Co now owns 607 shares of the company’s stock valued at $1,032,000 after acquiring an additional 58 shares during the period. Annandale Capital LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth approximately $534,000. Finally, Perennial Investment Advisors LLC increased its holdings in shares of MercadoLibre by 21.0% during the fourth quarter. Perennial Investment Advisors LLC now owns 173 shares of the company’s stock valued at $294,000 after acquiring an additional 30 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Cantor Fitzgerald boosted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two 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 company’s stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Down 5.4 %

MercadoLibre stock opened at $1,841.29 on Friday. The stock has a 50-day simple moving average of $2,036.90 and a 200-day simple moving average of $1,967.86. The company has a market capitalization of $93.35 billion, a P/E ratio of 48.84, a PEG ratio of 1.12 and a beta of 1.62. 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.

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 return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.