E Fund Management Co. Ltd. Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

E Fund Management Co. Ltd. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 466 shares of the company’s stock after selling 35 shares during the period. E Fund Management Co. Ltd.’s holdings in MercadoLibre were worth $732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Synergy Financial Group LTD grew its position in shares of MercadoLibre by 0.5% during the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock worth $2,030,000 after acquiring an additional 8 shares during the last quarter. Gateway Advisory LLC grew its stake in shares of MercadoLibre by 1.9% in the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in shares of MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after purchasing an additional 8 shares during the period. Catalyst Capital Advisors LLC lifted its holdings in shares of MercadoLibre by 32.1% during the third quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock worth $47,000 after purchasing an additional 9 shares during the period. Finally, Blue Trust Inc. increased its stake in MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI traded up $28.09 during trading hours on Wednesday, reaching $1,716.78. 485,251 shares of the company traded hands, compared to its average volume of 406,914. 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 firm’s 50-day moving average is $1,501.79 and its 200-day moving average is $1,549.14. The stock has a market cap of $87.04 billion, a P/E ratio of 76.81, a P/E/G ratio of 1.09 and a beta of 1.45. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.97 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of several analyst reports. Susquehanna lifted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Barclays cut their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Finally, DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

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.