MercadoLibre, Inc. (NASDAQ:MELI) is INCA Investments LLC’s 5th Largest Position

INCA Investments LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 35.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,228 shares of the company’s stock after selling 6,269 shares during the quarter. MercadoLibre makes up about 7.8% of INCA Investments LLC’s portfolio, making the stock its 5th biggest position. INCA Investments LLC’s holdings in MercadoLibre were worth $17,645,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. WCM Investment Management LLC boosted its position in MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after buying an additional 497,535 shares during the period. Morgan Stanley grew its stake in MercadoLibre by 10.2% in the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. International Assets Investment Management LLC grew its stake in MercadoLibre by 112,333.8% in the fourth quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in MercadoLibre by 108.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock worth $248,475,000 after purchasing an additional 101,757 shares during the period. Finally, Alphinity Investment Management Pty Ltd raised its position in MercadoLibre by 39.3% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 205,105 shares of the company’s stock valued at $322,331,000 after purchasing an additional 57,837 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup cut their price target on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Wedbush dropped their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Susquehanna boosted their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,790.36.

MercadoLibre Stock Up 2.3 %

NASDAQ:MELI traded up $32.36 during mid-day trading on Monday, hitting $1,438.36. 334,238 shares of the company’s stock traded hands, compared to its average volume of 384,350. The company has a fifty day moving average of $1,516.76 and a 200 day moving average of $1,534.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a market capitalization of $72.92 billion, a P/E ratio of 73.61, a P/E/G ratio of 0.94 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion for 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 revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.25 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 34.46 EPS for the current year.

MercadoLibre 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.