Pier 88 Investment Partners LLC Sells 1,753 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Pier 88 Investment Partners LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 75.8% during the 4th quarter, HoldingsChannel reports. The firm owned 560 shares of the company’s stock after selling 1,753 shares during the period. Pier 88 Investment Partners LLC’s holdings in MercadoLibre were worth $952,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MELI. Human Investing LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. grew its position in 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 acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre in the fourth quarter valued at about $32,000. Finally, Mather Group LLC. boosted its stake in shares of 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 in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 2.3 %

NASDAQ:MELI opened at $2,048.07 on Monday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. 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 stock has a market capitalization of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The firm has a fifty day simple moving average of $2,028.39 and a two-hundred day simple moving average of $1,973.66.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on MELI shares. Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report 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 on the stock in a research note on Tuesday, January 21st. The Goldman Sachs Group raised their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

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.