Vestmark Advisory Solutions Inc. Has $1.19 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Vestmark Advisory Solutions Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 754 shares of the company’s stock after selling 17 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in MercadoLibre were worth $1,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of MercadoLibre by 99.3% in the third quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after acquiring an additional 26,679 shares during the last quarter. Townsquare Capital LLC raised its stake in shares of MercadoLibre by 0.9% during the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after purchasing an additional 14 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after buying an additional 1,277 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of MercadoLibre by 2.3% in the third quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after buying an additional 4,065 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in MercadoLibre by 112,333.8% during the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Citigroup lowered their price objective on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a research note on Friday. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, Barclays reduced their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $1,805.00.

MercadoLibre Price Performance

MercadoLibre stock traded up $37.69 during mid-day trading on Monday, reaching $1,668.25. 113,114 shares of the company were exchanged, compared to its average volume of 399,110. The company has a fifty day simple moving average of $1,499.29 and a 200-day simple moving average of $1,542.15. The firm has a market cap of $84.58 billion, a PE ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the company posted $3.97 earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal 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.