Principle Wealth Partners LLC Purchases New Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Principle Wealth Partners LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 217 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors also recently added to or reduced their stakes in MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $28,000. Archer Investment Corp acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $31,000. NBC Securities Inc. acquired a new stake in MercadoLibre during the third quarter valued at approximately $35,000. Larson Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $36,000. Finally, Blue Trust Inc. boosted its holdings in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after acquiring an additional 9 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,406.00 on Monday. The firm has a fifty day moving average of $1,523.37 and a two-hundred day moving average of $1,532.59. The stock has a market capitalization of $71.28 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 0.94 and a beta of 1.44. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The business had revenue of $4.26 billion for 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 quarter in the previous year, the firm posted $3.25 EPS. As a group, equities research analysts predict that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. UBS Group reduced their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Susquehanna boosted their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Citigroup dropped their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $1,790.36.

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.