Blue Trust Inc. Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Blue Trust Inc. lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 67.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34 shares of the company’s stock after selling 70 shares during the quarter. Blue Trust Inc.’s holdings in MercadoLibre were worth $58,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacific Capital Wealth Advisors Inc. grew its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its stake in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $32,000. Mather Group LLC. boosted its position in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares during the last quarter. Finally, Grove Bank & Trust grew its position in shares of MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after acquiring an additional 12 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.6 %

MercadoLibre stock opened at $2,223.35 on Tuesday. The business’s 50-day simple moving average is $1,875.83 and its two-hundred day simple moving average is $1,960.50. The company has a market cap of $112.72 billion, a PE ratio of 58.97, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. BTIG Research reduced their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Wedbush cut their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and an average target price of $2,364.06.

Insider Transactions 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.