MercadoLibre, Inc. (NASDAQ:MELI) Position Reduced by Pinebridge Investments L.P.

Pinebridge Investments L.P. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,237 shares of the company’s stock after selling 268 shares during the period. Pinebridge Investments L.P.’s holdings in MercadoLibre were worth $3,804,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MELI. Principal Financial Group Inc. grew its holdings in MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after acquiring an additional 10,272 shares during the period. Nordea Investment Management AB boosted its position in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after purchasing an additional 143 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in MercadoLibre by 12.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 101,511 shares of the company’s stock valued at $172,613,000 after purchasing an additional 11,166 shares during the last quarter. Finally, Ninety One North America Inc. acquired a new position in MercadoLibre in the fourth quarter worth approximately $4,923,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.0 %

MELI stock opened at $2,225.85 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $112.84 billion, a PE ratio of 59.04, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 1 year low of $1,376.69 and a 1 year high of $2,374.54. The company has a fifty day simple moving average of $2,050.36 and a 200 day simple moving average of $1,966.25.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MELI shares. Benchmark initiated coverage on MercadoLibre in a research note on Tuesday, April 15th. They set a “buy” rating and a $2,500.00 price objective for the company. Susquehanna boosted their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Bank of America upped their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $2,464.67.

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.