Allstate Corp Invests $2.31 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Allstate Corp purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,357 shares of the company’s stock, valued at approximately $2,307,000.

Several other institutional investors have also added to or reduced their stakes in MELI. Human Investing LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $32,000. Finally, Mather Group LLC. increased its holdings in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.3 %

Shares of NASDAQ MELI opened at $2,048.07 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The firm has a market capitalization of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The stock has a 50 day moving average price of $2,028.39 and a 200 day moving average price of $1,974.17. 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 issued its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MELI shares. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Barclays raised their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. 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 report on Monday, January 6th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and a consensus price target of $2,402.81.

About MercadoLibre

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.