Sagespring Wealth Partners LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sagespring Wealth Partners LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 203 shares of the company’s stock, valued at approximately $345,000.

A number of other large investors have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after purchasing an additional 2,048 shares during the last quarter. Schroder Investment Management Group raised its holdings in MercadoLibre by 9.4% in the fourth quarter. Schroder Investment Management Group now owns 443,156 shares of the company’s stock valued at $753,560,000 after acquiring an additional 38,261 shares in the last quarter. Wellington Management Group LLP boosted its stake in MercadoLibre by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 380,956 shares of the company’s stock valued at $647,793,000 after acquiring an additional 31,278 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in MercadoLibre during the 4th quarter worth $565,306,000. Finally, Royal London Asset Management Ltd. increased its position in shares of MercadoLibre by 8.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 257,717 shares of the company’s stock worth $438,232,000 after purchasing an additional 21,063 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $2,118.32 on Wednesday. The firm has a market cap of $107.39 billion, a P/E ratio of 56.19, a PEG ratio of 1.12 and a beta of 1.62. The firm’s 50 day moving average price is $2,039.51 and its two-hundred day moving average price is $1,958.84. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on MELI shares. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Benchmark began coverage on shares of MercadoLibre in a research note on Tuesday. They set a “buy” rating and a $2,500.00 target price for the company. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and a consensus target price of $2,415.00.

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.