MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% in the 4th quarter, Holdings Channel reports. The fund owned 380,956 shares of the company’s stock after buying an additional 31,278 shares during the period. Wellington Management Group LLP’s holdings in MercadoLibre were worth $647,793,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of MercadoLibre during the third quarter worth approximately $273,000. Financial Counselors Inc. bought a new position in MercadoLibre in the 3rd quarter worth approximately $207,000. Erste Asset Management GmbH acquired a new stake in MercadoLibre in the 3rd quarter valued at approximately $9,703,000. Finally, Paloma Partners Management Co raised its stake in MercadoLibre by 42.3% during the 3rd quarter. Paloma Partners Management Co now owns 279 shares of the company’s stock valued at $572,000 after acquiring an additional 83 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MELI shares. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group boosted their price target 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. Barclays increased their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Susquehanna lifted 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,950.87 on Tuesday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm’s 50 day simple moving average is $2,030.68 and its 200-day simple moving average is $1,972.33. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $98.90 billion, a P/E ratio of 51.75, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.