Ethic Inc. Acquires 77 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ethic Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 916 shares of the company’s stock after acquiring an additional 77 shares during the period. Ethic Inc.’s holdings in MercadoLibre were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MELI. Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares in the last quarter. Capital International Investors raised its position in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors boosted its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after acquiring an additional 2,048 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,504.61 on Tuesday. The business’s 50-day moving average is $2,089.82 and its 200 day moving average is $1,984.71. MercadoLibre, Inc. has a 12 month low of $1,550.00 and a 12 month high of $2,520.00. 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 capitalization of $126.98 billion, a P/E ratio of 66.44, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.78 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Barclays upped their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Benchmark downgraded shares of MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Finally, Bank of America increased their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,504.67.

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.