Royal London Asset Management Ltd. Acquires 1,034 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Royal London Asset Management Ltd. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 196,953 shares of the company’s stock after purchasing an additional 1,034 shares during the quarter. MercadoLibre accounts for 0.9% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 22nd largest position. Royal London Asset Management Ltd. owned approximately 0.39% of MercadoLibre worth $309,520,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealthspire Advisors LLC increased its position in MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock worth $614,000 after buying an additional 7 shares during the last quarter. Independent Advisor Alliance raised its stake in MercadoLibre by 1.2% in the 4th quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after acquiring an additional 7 shares during the period. Gateway Advisory LLC lifted its holdings in MercadoLibre by 1.9% during the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in MercadoLibre by 6.2% during the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock worth $217,000 after purchasing an additional 8 shares during the period. Finally, Vestor Capital LLC increased its stake in shares of MercadoLibre by 10.0% in the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock worth $138,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI traded up $1.61 during midday trading on Friday, reaching $1,582.14. The stock had a trading volume of 223,146 shares, compared to its average volume of 298,570. The company has a market capitalization of $80.21 billion, a price-to-earnings ratio of 70.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The company’s 50-day moving average is $1,581.80 and its 200 day moving average is $1,606.84.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.97 EPS. On average, equities analysts predict that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MELI shares. UBS Group reduced their price objective on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Citigroup reduced their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Susquehanna increased their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Finally, DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

Check Out Our Latest Research Report on MELI

MercadoLibre Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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