Sit Investment Associates Inc. Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Sit Investment Associates Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 650.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225 shares of the company’s stock after acquiring an additional 195 shares during the quarter. Sit Investment Associates Inc.’s holdings in MercadoLibre were worth $383,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MELI. 1620 Investment Advisors Inc. lifted its holdings in shares of MercadoLibre by 2.5% during the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares during the last quarter. Nvwm LLC raised its stake in MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after acquiring an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock valued at $78,000 after acquiring an additional 7 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock valued at $524,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 5.4 %

MELI stock opened at $1,841.29 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $2,036.90 and a 200-day simple moving average of $1,966.91. The stock has a market capitalization of $93.35 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62.

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

Analyst Ratings Changes

MELI has been the topic of several research analyst reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research report on Tuesday, January 21st. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Cantor Fitzgerald lifted 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, February 21st. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Barclays lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and a consensus target price of $2,402.81.

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.