Banco BTG Pactual S.A. Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Banco BTG Pactual S.A. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,744 shares of the company’s stock after selling 45 shares during the period. MercadoLibre makes up 1.1% of Banco BTG Pactual S.A.’s portfolio, making the stock its 21st largest position. Banco BTG Pactual S.A.’s holdings in MercadoLibre were worth $4,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares during the period. State Street Corp increased its stake in shares of MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after purchasing an additional 12,000 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of MercadoLibre by 52.9% during the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Wealthfront Advisers LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $565,306,000. Finally, Royal London Asset Management Ltd. boosted its stake in MercadoLibre by 8.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company’s stock worth $438,232,000 after purchasing an additional 21,063 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,191.30 on Wednesday. The company’s fifty day moving average price is $2,014.23 and its 200 day moving average price is $1,972.78. The firm has a market capitalization of $111.09 billion, a P/E ratio of 58.12, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target 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. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Bank of America raised their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two equities 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. Based on data from MarketBeat.com, the company currently has an average 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.