First Horizon Advisors Inc. Has $233,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

First Horizon Advisors Inc. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148 shares of the company’s stock after acquiring an additional 12 shares during the period. First Horizon Advisors Inc.’s holdings in MercadoLibre were worth $233,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Fisher Asset Management LLC grew its stake in MercadoLibre by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 164,080 shares of the company’s stock valued at $257,859,000 after acquiring an additional 3,820 shares during the period. JFG Wealth Management LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $471,000. Fourth Sail Capital LP bought a new stake in MercadoLibre during the 4th quarter worth approximately $15,769,000. Seaview Investment Managers LLC raised its holdings in MercadoLibre by 83.1% during the 4th quarter. Seaview Investment Managers LLC now owns 1,653 shares of the company’s stock worth $2,598,000 after buying an additional 750 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in MercadoLibre by 10.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 540 shares of the company’s stock valued at $849,000 after buying an additional 51 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,630.56 on Monday. The company has a 50-day simple moving average of $1,499.29 and a two-hundred day simple moving average of $1,542.15. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The stock has a market capitalization of $82.67 billion, a price-to-earnings ratio of 72.96, a price-to-earnings-growth ratio of 1.09 and a beta of 1.45. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.97 earnings per share. Analysts forecast that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Analysts Set New Price Targets

MELI has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a research report on Tuesday, April 23rd. UBS Group decreased their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, Citigroup cut their target price 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. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

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.