Korea Investment CORP Purchases 2,986 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Korea Investment CORP raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% in the 4th quarter, Holdings Channel reports. The firm owned 47,360 shares of the company’s stock after buying an additional 2,986 shares during the quarter. Korea Investment CORP’s holdings in MercadoLibre were worth $80,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MELI. Human Investing LLC bought a new stake in MercadoLibre during the fourth quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. raised its holdings in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. grew its holdings in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 5.3 %

NASDAQ:MELI opened at $2,074.97 on Thursday. The firm has a market capitalization of $105.19 billion, a P/E ratio of 55.04, a P/E/G ratio of 1.12 and a beta of 1.64. 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 fifty day moving average of $2,018.97 and a 200 day moving average of $1,973.49. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The firm 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%. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. Bank of America lifted 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 report on Friday, February 21st. Cantor Fitzgerald lifted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Susquehanna lifted their price target 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. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. 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 stock. According to MarketBeat, the company currently has an average 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.