MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Summit Financial LLC

Summit Financial LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,831 shares of the company’s stock after acquiring an additional 383 shares during the quarter. Summit Financial LLC’s holdings in MercadoLibre were worth $4,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre during the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. increased its position in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares during the last quarter. Nordea Investment Management AB increased its position in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after acquiring an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after acquiring an additional 780 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,950.87 on Tuesday. The business has a 50 day moving average price of $2,030.68 and a 200 day moving average price of $1,972.33. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $98.90 billion, a price-to-earnings ratio of 51.75, a PEG ratio of 1.12 and a beta of 1.64. 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 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 business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Barclays lifted their target price 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. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Susquehanna lifted their target price 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, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two 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. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre 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.