Parallel Advisors LLC Acquires 19 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Parallel Advisors LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 215 shares of the company’s stock after purchasing an additional 19 shares during the period. Parallel Advisors LLC’s holdings in MercadoLibre were worth $366,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GWN Securities Inc. bought a new stake in MercadoLibre in the fourth quarter worth $409,000. Harbour Investments Inc. boosted its stake in MercadoLibre by 2.1% in the 4th quarter. Harbour Investments Inc. now owns 839 shares of the company’s stock worth $1,427,000 after purchasing an additional 17 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in MercadoLibre by 69.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,445 shares of the company’s stock valued at $5,858,000 after purchasing an additional 1,411 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in MercadoLibre by 1.9% during the 4th quarter. Frank Rimerman Advisors LLC now owns 770 shares of the company’s stock valued at $1,309,000 after purchasing an additional 14 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in MercadoLibre in the fourth quarter worth about $273,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. Barclays increased their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush decreased their target price 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. Citigroup cut their target price on shares of 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. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Finally, Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,095.27 on Friday. 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, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock has a market cap of $106.22 billion, a price-to-earnings ratio of 55.58, a PEG ratio of 1.12 and a beta of 1.64. The company’s 50 day moving average is $1,997.59 and its two-hundred day moving average is $1,970.94.

MercadoLibre (NASDAQ:MELI) last announced 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 for 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, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.