MGO One Seven LLC Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

MGO One Seven LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 35.8% in the 3rd quarter, Holdings Channel reports. The fund owned 451 shares of the company’s stock after buying an additional 119 shares during the quarter. MGO One Seven LLC’s holdings in MercadoLibre were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. bought a new stake in MercadoLibre in the first quarter worth $236,000. Cibc World Market Inc. lifted its stake in MercadoLibre by 6.1% in the first quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock worth $784,000 after purchasing an additional 38 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MercadoLibre by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock valued at $225,000 after acquiring an additional 15 shares during the last quarter. Blair William & Co. IL raised its stake in shares of MercadoLibre by 10.1% during the first quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock valued at $3,423,000 after acquiring an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of MercadoLibre by 25.1% during the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock valued at $1,247,000 after acquiring an additional 210 shares during the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on MELI. Wedbush upped their price objective on shares of MercadoLibre from $1,700.00 to $1,800.00 and gave the company an “outperform” rating in a research note on Wednesday, December 27th. Susquehanna boosted their price target on shares of MercadoLibre from $1,625.00 to $1,850.00 and gave the company a “positive” rating in a research report on Tuesday, November 28th. Citigroup boosted their price target on shares of MercadoLibre from $1,550.00 to $1,900.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, December 28th. Finally, Bank of America upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price target on the stock in a research report on Monday, November 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,752.50.

Read Our Latest Report on MELI

MercadoLibre Price Performance

Shares of MELI stock traded up $57.00 on Friday, hitting $1,795.80. 378,355 shares of the stock traded hands, compared to its average volume of 357,880. The firm has a market cap of $90.80 billion, a price-to-earnings ratio of 91.80, a PEG ratio of 1.18 and a beta of 1.56. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,799.27. The firm has a 50 day simple moving average of $1,600.62 and a two-hundred day simple moving average of $1,390.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its earnings results on Wednesday, November 1st. The company reported $7.16 earnings per share for the quarter, beating the consensus estimate of $5.88 by $1.28. The company had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.57 billion. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. MercadoLibre’s quarterly revenue was up 43.0% on a year-over-year basis. During the same period last year, the company posted $2.56 earnings per share. As a group, equities research analysts predict that MercadoLibre, Inc. will post 22.3 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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