Rhumbline Advisers Has $16.88 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Rhumbline Advisers boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,928 shares of the company’s stock after acquiring an additional 377 shares during the period. Rhumbline Advisers’ holdings in MercadoLibre were worth $16,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planning Capital Management Corp boosted its stake in shares of MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its stake in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the last quarter. Strategic Blueprint LLC grew its holdings in MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the period. Nvwm LLC raised its position in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after acquiring an additional 6 shares during the last quarter. Finally, 1620 Investment Advisors Inc. lifted its stake in shares of MercadoLibre by 3.7% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock valued at $407,000 after purchasing an additional 7 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Trading Up 7.1 %

NASDAQ:MELI opened at $2,260.00 on Friday. The company has a market cap of $114.58 billion, a P/E ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The business has a 50 day moving average price of $1,867.29 and a two-hundred day moving average price of $1,956.30. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. As a group, analysts expect that MercadoLibre, Inc. will post 32.98 EPS for the current fiscal year.

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.