Heirloom Wealth Management Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Heirloom Wealth Management grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,330 shares of the company’s stock after buying an additional 110 shares during the quarter. MercadoLibre makes up about 2.0% of Heirloom Wealth Management’s portfolio, making the stock its 16th biggest position. Heirloom Wealth Management’s holdings in MercadoLibre were worth $5,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its position in shares of MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares during the last quarter. Jennison Associates LLC lifted its position in MercadoLibre by 1.3% in the third quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after buying an additional 28,095 shares during the last quarter. WCM Investment Management LLC lifted its position in MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after buying an additional 497,535 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 30.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock worth $401,841,000 after buying an additional 111,751 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its position in MercadoLibre by 6.1% in the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after buying an additional 23,699 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 1.0 %

MELI traded down $13.82 on Friday, hitting $1,356.43. The company had a trading volume of 352,741 shares, compared to its average volume of 387,076. The stock has a fifty day moving average price of $1,559.84 and a 200-day moving average price of $1,523.45. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month 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. The stock has a market capitalization of $68.77 billion, a price-to-earnings ratio of 69.42, a P/E/G ratio of 0.90 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the firm earned $3.25 EPS. MercadoLibre’s revenue for the quarter was up 42.0% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 35.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MELI. Susquehanna raised their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Barclays lowered their price target on 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. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. UBS Group lowered their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $1,813.85.

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.