Los Angeles Capital Management LLC Acquires 226 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Los Angeles Capital Management LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,303 shares of the company’s stock after acquiring an additional 226 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MercadoLibre were worth $2,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Morgan Stanley grew its position 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 acquiring an additional 236,744 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 1.3% in the 3rd quarter. Jennison Associates LLC now owns 2,233,430 shares of the company’s stock worth $2,831,721,000 after purchasing an additional 28,095 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of MercadoLibre by 6.1% during the 3rd quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock valued at $521,492,000 after purchasing an additional 23,699 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of MercadoLibre by 10.2% during the 3rd quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock valued at $462,999,000 after buying an additional 33,801 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.4 %

Shares of MELI stock opened at $1,653.85 on Tuesday. The stock has a market capitalization of $83.85 billion, a P/E ratio of 74.00, a P/E/G ratio of 1.09 and a beta of 1.45. 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’s 50 day moving average is $1,500.17 and its 200 day moving average is $1,545.49. MercadoLibre, Inc. has a 12-month low of $1,063.02 and a 12-month high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The company 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%. MercadoLibre’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.97 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. UBS Group decreased 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. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Citigroup decreased their target price on shares of 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. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,805.00.

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.