Exchange Traded Concepts LLC Raises Holdings in MercadoLibre, Inc. $MELI

Exchange Traded Concepts LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 55.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,806 shares of the company’s stock after acquiring an additional 7,819 shares during the quarter. Exchange Traded Concepts LLC’s holdings in MercadoLibre were worth $43,923,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter worth about $29,000. Holos Integrated Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $32,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,599.52 on Friday. The stock has a 50-day moving average of $1,901.13 and a two-hundred day moving average of $2,066.92. MercadoLibre, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market cap of $81.10 billion, a P/E ratio of 40.60, a P/E/G ratio of 0.82 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the prior year, the company posted $12.61 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MELI. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. BTIG Research dropped their target price on MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating on the stock in a research report on Friday, March 20th. Wedbush cut their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Barclays reduced their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,708.67.

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.