Deepwater Asset Management LLC Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Deepwater Asset Management LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,221 shares of the company’s stock after selling 734 shares during the period. MercadoLibre accounts for about 5.1% of Deepwater Asset Management LLC’s holdings, making the stock its 9th biggest position. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $12,920,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. boosted its holdings in MercadoLibre by 500.0% in the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock worth $30,000 after acquiring an additional 20 shares in the last quarter. Proffitt & Goodson Inc. purchased a new stake in shares of MercadoLibre in the third quarter worth approximately $32,000. Castleview Partners LLC raised its stake in shares of MercadoLibre by 58.8% in the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock worth $32,000 after purchasing an additional 10 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of MercadoLibre in the third quarter worth approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of MercadoLibre in the third quarter worth approximately $36,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $12.61 during trading hours on Tuesday, reaching $1,537.46. The stock had a trading volume of 327,132 shares, compared to its average volume of 403,536. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00. The stock has a 50 day simple moving average of $1,658.99 and a 200 day simple moving average of $1,507.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a market cap of $77.95 billion, a P/E ratio of 78.68, a price-to-earnings-growth ratio of 1.03 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the previous year, the business earned $3.25 earnings per share. MercadoLibre’s revenue was up 42.0% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 36.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MELI shares. Barclays increased their price objective on MercadoLibre from $1,900.00 to $2,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Citigroup increased their price target on MercadoLibre from $1,550.00 to $1,900.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a research report on Tuesday, March 5th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,815.00.

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.