Fiduciary Financial Group LLC Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Fiduciary Financial Group LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 46.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361 shares of the company’s stock after purchasing an additional 114 shares during the quarter. Fiduciary Financial Group LLC’s holdings in MercadoLibre were worth $698,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after purchasing an additional 179,807 shares during the last quarter. Capital International Investors lifted its position in MercadoLibre by 38.7% in the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after buying an additional 470,829 shares in the last quarter. Capital World Investors raised its position in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after acquiring an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after buying an additional 2,048 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,448.60 on Tuesday. The firm’s 50-day moving average is $2,298.62 and its 200 day moving average is $2,066.22. The stock has a market cap of $124.14 billion, a price-to-earnings ratio of 64.95, a PEG ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. 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 released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period last year, the firm earned $6.78 earnings per share. The company’s quarterly revenue was up 37.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. Barclays upped their price target on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,613.75.

About MercadoLibre

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.