Russell Investments Group Ltd. Has $129.07 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Russell Investments Group Ltd. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 75.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,094 shares of the company’s stock after selling 249,496 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.16% of MercadoLibre worth $129,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Morgan Stanley lifted its stake in MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of MercadoLibre by 1.3% during the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after buying an additional 28,095 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after buying an additional 497,535 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of MercadoLibre by 6.1% during the 3rd quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after buying an additional 23,699 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of MercadoLibre by 10.2% during the 3rd quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock worth $462,999,000 after buying an additional 33,801 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $42.17 during midday trading on Friday, hitting $1,406.00. 443,331 shares of the company traded hands, compared to its average volume of 319,014. The stock has a market cap of $71.28 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 0.91 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The firm’s fifty day moving average price is $1,523.37 and its 200-day moving average price is $1,528.68. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period last year, the firm posted $3.25 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MELI shares. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday. Wedbush cut their target price on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,790.36.

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.