MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% in the fourth quarter, Holdings Channel reports. The fund owned 1,300 shares of the company’s stock after selling 100 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $2,043,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after acquiring an additional 26,679 shares during the last quarter. Townsquare Capital LLC raised its holdings in MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after acquiring an additional 14 shares during the last quarter. California Public Employees Retirement System raised its holdings in MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after acquiring an additional 1,277 shares during the last quarter. Vanguard Group Inc. raised its holdings in MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after acquiring an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after buying an additional 146,034 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.0 %

MELI stock traded up $26.77 during midday trading on Tuesday, hitting $1,395.00. The company’s stock had a trading volume of 416,349 shares, compared to its average volume of 387,495. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The firm has a market capitalization of $70.72 billion, a P/E ratio of 71.39, a PEG ratio of 0.87 and a beta of 1.44. The firm has a 50-day simple moving average of $1,546.31 and a 200-day simple moving average of $1,529.78.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the prior year, the business earned $3.25 EPS. The business’s quarterly revenue was up 42.0% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 35.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MELI shares. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target for the company in a report on Tuesday. Barclays cut their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,804.64.

MercadoLibre 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.