MercadoLibre, Inc. (NASDAQ:MELI) Holdings Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,297 shares of the company’s stock after selling 18 shares during the quarter. Corebridge Financial Inc.’s holdings in MercadoLibre were worth $5,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in 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 during the last quarter. Wellington Management Group LLP lifted its position in shares of MercadoLibre by 52.9% during the 3rd 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 during the last quarter. Wealthfront Advisers LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth $565,306,000. Royal London Asset Management Ltd. lifted its holdings in shares of MercadoLibre by 8.9% during the fourth quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company’s stock valued at $438,232,000 after purchasing an additional 21,063 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in MercadoLibre by 1.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock worth $400,619,000 after purchasing an additional 3,710 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on MELI. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 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 MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Down 2.3 %

MELI stock opened at $2,048.07 on Friday. The firm has a market cap of $103.83 billion, a PE ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a fifty day simple moving average of $2,028.39 and a 200 day simple moving average of $1,974.17. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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

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.