Main Street Research LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Main Street Research LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 117.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,022 shares of the company’s stock after acquiring an additional 8,099 shares during the period. Main Street Research LLC’s holdings in MercadoLibre were worth $25,544,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Isthmus Partners LLC bought a new stake in MercadoLibre in the fourth quarter valued at $216,000. NBT Bank N A NY boosted its stake in shares of MercadoLibre by 15.4% during the 4th quarter. NBT Bank N A NY now owns 135 shares of the company’s stock valued at $230,000 after purchasing an additional 18 shares in the last quarter. Argentarii LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at about $216,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of MercadoLibre by 4.6% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 203 shares of the company’s stock valued at $345,000 after buying an additional 9 shares during the period. Finally, Personal CFO Solutions LLC raised its stake in MercadoLibre by 1.6% in the fourth quarter. Personal CFO Solutions LLC now owns 452 shares of the company’s stock worth $769,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 1.8 %

Shares of MELI stock opened at $2,009.34 on Monday. The stock has a market capitalization of $101.87 billion, a P/E ratio of 53.30, a P/E/G ratio of 1.12 and a beta of 1.64. 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 firm’s 50 day moving average is $1,942.41 and its 200 day moving average is $1,969.65. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 51.89% and a net margin of 9.20%. Research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group increased 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. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus price target 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.