HighTower Advisors LLC Sells 710 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

HighTower Advisors LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,255 shares of the company’s stock after selling 710 shares during the period. HighTower Advisors LLC’s holdings in MercadoLibre were worth $8,936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. increased its stake in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after purchasing an additional 143 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 4.2 %

Shares of MELI stock opened at $2,106.46 on Tuesday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The firm has a fifty day moving average price of $1,973.12 and a 200-day moving average price of $1,969.76. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market cap of $106.79 billion, a price-to-earnings ratio of 55.87, a PEG ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last issued 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. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MELI shares. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Bank of America raised their price target 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. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. Two investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target 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.