BNP Paribas Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

BNP Paribas trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,821 shares of the company’s stock after selling 100 shares during the period. BNP Paribas’ holdings in MercadoLibre were worth $9,900,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. boosted its stake in shares of MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares in the last quarter. Texas Yale Capital Corp. boosted its position in MercadoLibre by 0.3% during the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock valued at $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co grew its stake in shares of MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after buying an additional 5 shares during the last quarter. Nvwm LLC increased its holdings in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after buying an additional 6 shares during the period. Finally, Ancora Advisors LLC lifted its stake in shares of MercadoLibre by 10.9% in the 4th quarter. Ancora Advisors LLC now owns 61 shares of the company’s stock valued at $104,000 after acquiring an additional 6 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.6 %

Shares of NASDAQ MELI opened at $2,280.69 on Friday. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a 50-day moving average of $2,061.51 and a 200 day moving average of $1,973.35. The stock has a market cap of $115.62 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several 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 objective for the company in a research report on Tuesday, January 21st. Barclays increased their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Susquehanna raised their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,464.67.

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.