Terra Nova Asset Management LLC Has $3.48 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Terra Nova Asset Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,213 shares of the company’s stock after selling 52 shares during the period. MercadoLibre comprises approximately 3.0% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Terra Nova Asset Management LLC’s holdings in MercadoLibre were worth $3,478,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted its stake in MercadoLibre by 500.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. acquired a new position in MercadoLibre in the 3rd quarter worth approximately $32,000. Castleview Partners LLC boosted its stake in MercadoLibre by 58.8% in the 2nd quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after purchasing an additional 10 shares during the period. NBC Securities Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at $35,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at $36,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.7 %

MercadoLibre stock opened at $1,511.96 on Friday. The company has a market cap of $76.66 billion, a P/E ratio of 77.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a fifty day simple moving average of $1,654.04 and a 200 day simple moving average of $1,508.43. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s revenue was up 42.0% on a year-over-year basis. During the same period last year, the business earned $3.25 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 36.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Citigroup decreased their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Barclays raised their price target on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,817.86.

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.