Henry James International Management Inc. Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Henry James International Management Inc. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 342 shares of the company’s stock after selling 16 shares during the period. Henry James International Management Inc.’s holdings in MercadoLibre were worth $582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Jennison Associates LLC grew its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC lifted its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the period. State Street Corp grew its position in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP increased its stake 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 buying an additional 120,922 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of MercadoLibre by 1.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,597 shares of the company’s stock valued at $400,619,000 after acquiring an additional 3,710 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MELI. Bank of America boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Citigroup decreased their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Two equities research 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, MercadoLibre has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,121.87 on Friday. 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 50 day moving average price of $1,909.95 and a 200-day moving average price of $1,966.83. 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 $107.57 billion, a PE ratio of 56.28, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.