Schroder Investment Management Group Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Schroder Investment Management Group raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 443,156 shares of the company’s stock after acquiring an additional 38,261 shares during the quarter. MercadoLibre makes up 0.7% of Schroder Investment Management Group’s investment portfolio, making the stock its 24th largest position. Schroder Investment Management Group’s holdings in MercadoLibre were worth $753,560,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new position in MercadoLibre during the third quarter valued at $114,417,000. Principal Financial Group Inc. increased its holdings in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after buying an additional 780 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,048.07 on Friday. The firm has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The company’s 50 day moving average price is $2,028.39 and its two-hundred day moving average price is $1,974.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. 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 data 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 during the quarter, compared to analyst estimates of $5.94 billion. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on MELI. 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 research note on Tuesday, January 21st. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note 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 company a “neutral” rating in a report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, The Goldman Sachs Group raised their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and an average price target of $2,402.81.

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.