Amundi Has $194.57 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Amundi increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 111,884 shares of the company’s stock after purchasing an additional 1,309 shares during the period. Amundi’s holdings in MercadoLibre were worth $194,566,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Swedbank AB grew its position in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. QRG Capital Management Inc. bought a new stake in MercadoLibre during the 3rd quarter valued at approximately $293,000. Washington Trust Advisors Inc. grew its holdings in MercadoLibre by 1,100.0% in the 3rd quarter. Washington Trust Advisors Inc. now owns 36 shares of the company’s stock valued at $73,000 after buying an additional 33 shares during the last quarter. Verdence Capital Advisors LLC increased its position in MercadoLibre by 62.0% in the 3rd quarter. Verdence Capital Advisors LLC now owns 575 shares of the company’s stock worth $1,180,000 after buying an additional 220 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of MercadoLibre by 11.1% during the third quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock worth $8,294,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several research analyst reports. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Barclays upped their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Wedbush decreased their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Down 1.8 %

Shares of NASDAQ MELI opened at $2,009.34 on Monday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. 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 business has a fifty day moving average of $1,942.41 and a two-hundred day moving average of $1,969.65. The stock has a market cap of $101.87 billion, a PE ratio of 53.30, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last announced its quarterly 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 firm had revenue of $6.06 billion during 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 expect that MercadoLibre, Inc. will post 43.96 earnings per share 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.