Cumberland Partners Ltd Has $2.04 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Cumberland Partners Ltd reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,300 shares of the company’s stock after selling 100 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $2,043,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at about $28,000. Archer Investment Corp bought a new position in MercadoLibre in the 4th quarter valued at about $31,000. Proffitt & Goodson Inc. bought a new position in MercadoLibre in the 3rd quarter valued at about $32,000. NBC Securities Inc. bought a new position in MercadoLibre in the 3rd quarter valued at about $35,000. Finally, Larson Financial Group LLC bought a new position in MercadoLibre in the 4th quarter valued at about $36,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on MELI. Barclays lowered their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. UBS Group lowered their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Finally, Susquehanna raised their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,804.64.

MercadoLibre Price Performance

NASDAQ:MELI traded up $26.77 during mid-day trading on Tuesday, reaching $1,395.00. The stock had a trading volume of 416,349 shares, compared to its average volume of 387,495. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The stock has a market capitalization of $70.72 billion, a PE ratio of 71.39, a P/E/G ratio of 0.87 and a beta of 1.44. The stock has a 50-day simple moving average of $1,546.31 and a two-hundred day simple moving average of $1,529.78.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 EPS. On average, equities analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share for the current 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.