Ted Buchan & Co Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ted Buchan & Co increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607 shares of the company’s stock after buying an additional 58 shares during the period. Ted Buchan & Co’s holdings in MercadoLibre were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in shares of MercadoLibre by 11.9% in the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares during the period. Hilltop Holdings Inc. boosted its holdings in MercadoLibre by 9.1% in the 3rd quarter. Hilltop Holdings Inc. now owns 312 shares of the company’s stock worth $640,000 after buying an additional 26 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in MercadoLibre by 9.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 721 shares of the company’s stock worth $1,479,000 after buying an additional 60 shares during the last quarter. IHT Wealth Management LLC raised its holdings in shares of MercadoLibre by 5.9% during the third quarter. IHT Wealth Management LLC now owns 342 shares of the company’s stock valued at $702,000 after acquiring an additional 19 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of MercadoLibre by 14.1% in the third quarter. Quantinno Capital Management LP now owns 3,652 shares of the company’s stock valued at $7,494,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,841.29 on Friday. The firm has a 50-day simple moving average of $2,036.90 and a two-hundred day simple moving average of $1,968.60. The stock has a market cap of $93.35 billion, a PE ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Susquehanna increased their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Wedbush decreased 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. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre 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.