Mitsubishi UFJ Trust & Banking Corp Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the 4th quarter, Holdings Channel reports. The firm owned 94,981 shares of the company’s stock after selling 3,860 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in MercadoLibre were worth $161,557,000 at the end of the most recent reporting period.

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

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,134.31 on Tuesday. The stock has a market cap of $108.20 billion, a P/E ratio of 56.61, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The stock has a 50 day moving average of $2,005.48 and a two-hundred day moving average of $1,971.33. 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 EPS for the quarter, beating 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 firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Wedbush lowered their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average 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.