RWA Wealth Partners LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

RWA Wealth Partners LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 222 shares of the company’s stock, valued at approximately $349,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in MercadoLibre by 99.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after acquiring an additional 26,679 shares during the period. Townsquare Capital LLC increased its stake in shares of MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after purchasing an additional 14 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after purchasing an additional 1,277 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after purchasing an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MELI. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Susquehanna raised their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. UBS Group cut their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Barclays cut their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,790.36.

MercadoLibre Stock Performance

MELI stock opened at $1,363.83 on Friday. The stock has a 50-day moving average price of $1,530.62 and a 200-day moving average price of $1,527.51. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. The firm has a market cap of $69.15 billion, a PE ratio of 69.80, a price-to-earnings-growth ratio of 0.91 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 for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the business posted $3.25 earnings per share. The business’s revenue was up 42.0% on a year-over-year basis. As a group, equities research analysts expect that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

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.