Farther Finance Advisors LLC Grows Stake in MercadoLibre, Inc. $MELI

Farther Finance Advisors LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 36.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,353 shares of the company’s stock after acquiring an additional 358 shares during the quarter. Farther Finance Advisors LLC’s holdings in MercadoLibre were worth $2,725,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Weitz Investment Management Inc. purchased a new stake in shares of MercadoLibre in the 3rd quarter valued at about $8,647,000. Barlow Wealth Partners Inc. raised its stake in MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after acquiring an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in MercadoLibre by 14.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after acquiring an additional 10,849 shares during the last quarter. Principal Financial Group Inc. raised its stake in MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after acquiring an additional 7,570 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in MercadoLibre by 5.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock valued at $27,015,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,855.83 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $1,793.36 and its two-hundred day moving average is $1,995.72. MercadoLibre, Inc. has a 12-month low of $1,593.21 and a 12-month high of $2,645.22. The stock has a market capitalization of $94.09 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 0.95 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. Wedbush reduced their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Barclays reduced their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,695.33.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.