World Investment Advisors Boosts Stake in MercadoLibre, Inc. $MELI

World Investment Advisors increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 67.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,318 shares of the company’s stock after buying an additional 532 shares during the period. World Investment Advisors’ holdings in MercadoLibre were worth $2,655,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Wilkinson Global Asset Management LLC boosted its position in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after purchasing an additional 5 shares during the period. Hardy Reed LLC boosted its position in shares of MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after purchasing an additional 5 shares during the period. Rothschild Investment LLC boosted its position in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Interchange Capital Partners LLC boosted its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its position in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday. Finally, Benchmark reduced their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of MELI opened at $1,546.81 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The firm’s fifty day simple moving average is $1,734.98 and its 200-day simple moving average is $1,945.43. The firm has a market capitalization of $78.42 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 0.95 and a beta of 1.41. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 42.53 EPS for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.