Man Group plc Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Man Group plc decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,204 shares of the company’s stock after selling 5,748 shares during the quarter. Man Group plc’s holdings in MercadoLibre were worth $47,959,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Human Investing LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. grew its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares during the last quarter. Covestor Ltd purchased a new position in shares of MercadoLibre during the fourth quarter worth about $27,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $2,564.00 on Thursday. The firm has a 50 day moving average of $2,110.31 and a 200-day moving average of $1,992.37. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,564.03. 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 company has a market cap of $129.99 billion, a price-to-earnings ratio of 68.01, a PEG ratio of 1.12 and a beta of 1.61.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Benchmark downgraded shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,521.33.

About MercadoLibre

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.