Los Angeles Capital Management LLC Has $2.05 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Los Angeles Capital Management LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,303 shares of the company’s stock after buying an additional 226 shares during the period. Los Angeles Capital Management LLC’s holdings in MercadoLibre were worth $2,048,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MELI. Natixis Advisors L.P. raised its position in shares of MercadoLibre by 55.4% during the fourth quarter. Natixis Advisors L.P. now owns 19,731 shares of the company’s stock worth $31,007,000 after purchasing an additional 7,031 shares during the period. First Horizon Advisors Inc. lifted its stake in MercadoLibre by 8.8% in the fourth quarter. First Horizon Advisors Inc. now owns 148 shares of the company’s stock valued at $233,000 after buying an additional 12 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of MercadoLibre by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 164,080 shares of the company’s stock valued at $257,859,000 after buying an additional 3,820 shares during the period. JFG Wealth Management LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $471,000. Finally, Fourth Sail Capital LP bought a new stake in MercadoLibre in the 4th quarter valued at $15,769,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,653.85 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The stock has a market cap of $83.85 billion, a PE ratio of 74.00, a P/E/G ratio of 1.09 and a beta of 1.45. The firm has a 50-day moving average of $1,500.17 and a 200-day moving average of $1,545.49. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business posted $3.97 earnings per share. MercadoLibre’s quarterly revenue was up 36.0% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Citigroup decreased their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, UBS Group decreased their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

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.