Magnetar Financial LLC Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Magnetar Financial LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 93.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189 shares of the company’s stock after selling 2,916 shares during the period. Magnetar Financial LLC’s holdings in MercadoLibre were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MELI. Swedbank AB lifted its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in MercadoLibre by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the last quarter. Avior Wealth Management LLC lifted its position in MercadoLibre by 268.1% during the third quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock valued at $355,000 after acquiring an additional 126 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in MercadoLibre during the third quarter valued at approximately $209,000. Finally, 49 Wealth Management LLC purchased a new stake in MercadoLibre during the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,095.27 on Friday. The company’s fifty day moving average price is $1,997.59 and its 200 day moving average price is $1,970.80. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a market capitalization of $106.22 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. 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 announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. 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 research note on Monday, January 6th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,402.81.

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.