Malaga Cove Capital LLC Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Malaga Cove Capital LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 514 shares of the company’s stock after selling 10 shares during the quarter. Malaga Cove Capital LLC’s holdings in MercadoLibre were worth $874,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors grew its holdings in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Capital International Investors boosted its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after buying an additional 470,829 shares during the period. Capital World Investors grew its stake in shares of MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of MercadoLibre by 0.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after acquiring an additional 2,048 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI opened at $2,515.12 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,561.68. The stock has a market cap of $127.51 billion, a PE ratio of 66.71, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The firm has a fifty day moving average price of $2,099.22 and a 200 day moving average price of $1,988.40.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.78 EPS. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on MELI shares. Raymond James upgraded 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. Bank of America boosted 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. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Barclays boosted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,504.67.

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.