AGF Management Ltd. Sells 21,161 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AGF Management Ltd. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 28.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,242 shares of the company’s stock after selling 21,161 shares during the period. AGF Management Ltd.’s holdings in MercadoLibre were worth $90,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Human Investing LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in shares of MercadoLibre by 220.0% during the 4th 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 MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $32,000. Finally, Mather Group LLC. lifted its holdings in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MELI. Bank of America increased their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Cantor Fitzgerald raised their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,944.61 on Tuesday. 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 company has a market cap of $98.59 billion, a PE ratio of 51.58, a P/E/G ratio of 1.12 and a beta of 1.64. The business has a 50-day simple moving average of $1,946.86 and a two-hundred day simple moving average of $1,969.34. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.