Bellecapital International Ltd. Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bellecapital International Ltd. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.9% during the 4th quarter, Holdings Channel reports. The fund owned 10,665 shares of the company’s stock after buying an additional 1,047 shares during the quarter. MercadoLibre comprises 3.2% of Bellecapital International Ltd.’s portfolio, making the stock its 12th largest holding. Bellecapital International Ltd.’s holdings in MercadoLibre were worth $18,135,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MELI. Swedbank AB raised its holdings in shares of MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. Mutual Advisors LLC raised its holdings in shares of MercadoLibre by 29.4% during the 3rd quarter. Mutual Advisors LLC now owns 674 shares of the company’s stock worth $1,385,000 after acquiring an additional 153 shares during the period. Stephens Investment Management Group LLC raised its holdings in shares of MercadoLibre by 8.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 196 shares of the company’s stock worth $402,000 after acquiring an additional 16 shares during the period. Focus Financial Network Inc. raised its holdings in MercadoLibre by 6.3% in the 3rd quarter. Focus Financial Network Inc. now owns 272 shares of the company’s stock valued at $558,000 after buying an additional 16 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in MercadoLibre by 3.3% in the 3rd quarter. New York State Common Retirement Fund now owns 28,374 shares of the company’s stock valued at $58,222,000 after buying an additional 910 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,121.87 on Friday. The stock has a 50 day moving average price of $1,909.95 and a 200 day moving average price of $1,967.18. 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 company has a market capitalization of $107.57 billion, a price-to-earnings ratio of 56.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

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 analysts’ consensus estimates 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 return on equity of 51.89% and a net margin of 9.20%. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Raymond James upgraded shares of 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. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, New Street Research upgraded shares of 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2,385.94.

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.