GUARDCAP ASSET MANAGEMENT Ltd Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

GUARDCAP ASSET MANAGEMENT Ltd reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,835 shares of the company’s stock after selling 101 shares during the quarter. MercadoLibre comprises approximately 0.1% of GUARDCAP ASSET MANAGEMENT Ltd’s portfolio, making the stock its 18th biggest holding. GUARDCAP ASSET MANAGEMENT Ltd’s holdings in MercadoLibre were worth $4,821,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Swedbank AB raised 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 buying an additional 73,336 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the last quarter. Avior Wealth Management LLC lifted its stake in shares of MercadoLibre by 268.1% during the 3rd quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock worth $355,000 after purchasing an additional 126 shares during the period. Citizens Financial Group Inc. RI purchased a new position in shares of MercadoLibre during the 3rd quarter worth $209,000. Finally, 49 Wealth Management LLC acquired a new stake in shares of MercadoLibre during the third quarter worth $209,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,095.27 on Friday. The company has a market cap of $106.22 billion, a P/E ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The business’s 50-day simple moving average is $1,997.59 and its 200 day simple moving average is $1,970.80. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data 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 company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna increased their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Cantor Fitzgerald lifted their price target 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, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. Two 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 data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and a consensus target price of $2,402.81.

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.