MercadoLibre, Inc. (NASDAQ:MELI) Stake Raised by Ribbit Management Company LLC

Ribbit Management Company LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 130.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,673 shares of the company’s stock after purchasing an additional 6,040 shares during the quarter. MercadoLibre comprises 2.1% of Ribbit Management Company LLC’s portfolio, making the stock its 8th biggest position. Ribbit Management Company LLC’s holdings in MercadoLibre were worth $18,149,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Miracle Mile Advisors LLC grew its position in MercadoLibre by 17.2% during the 4th quarter. Miracle Mile Advisors LLC now owns 157 shares of the company’s stock worth $267,000 after purchasing an additional 23 shares during the period. Fiduciary Financial Group LLC boosted its stake in shares of MercadoLibre by 17.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 247 shares of the company’s stock worth $434,000 after buying an additional 37 shares during the last quarter. Board of the Pension Protection Fund acquired a new stake in MercadoLibre during the fourth quarter worth about $340,000. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 11,166 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in MercadoLibre by 20.0% in the fourth quarter. Park Avenue Securities LLC now owns 1,774 shares of the company’s stock valued at $3,017,000 after acquiring an additional 296 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.9%

Shares of MELI stock opened at $2,564.00 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,564.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock’s fifty day moving average is $2,110.31 and its two-hundred day moving average is $1,992.37. The firm has a market capitalization of $129.99 billion, a P/E 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 for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre’s quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.78 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MELI. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Finally, Barclays increased their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,521.33.

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.