RWC Asset Management LLP Acquires 2,961 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

RWC Asset Management LLP lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,301 shares of the company’s stock after purchasing an additional 2,961 shares during the quarter. MercadoLibre accounts for approximately 2.3% of RWC Asset Management LLP’s investment portfolio, making the stock its 15th biggest holding. RWC Asset Management LLP’s holdings in MercadoLibre were worth $38,190,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at about $28,000. Archer Investment Corp bought a new position in shares of MercadoLibre in the fourth quarter valued at about $31,000. NBC Securities Inc. bought a new position in shares of MercadoLibre in the third quarter valued at about $35,000. Larson Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at about $36,000. Finally, Blue Trust Inc. raised its position in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after purchasing an additional 9 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MELI shares. Citigroup decreased their price target 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. Wedbush reduced their price objective on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research note on Wednesday. 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 note on Tuesday, February 27th. DZ Bank upgraded shares of 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. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,790.36.

MercadoLibre Stock Up 3.1 %

MELI traded up $42.17 during mid-day trading on Friday, reaching $1,406.00. 443,331 shares of the stock were exchanged, compared to its average volume of 319,014. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The stock has a market capitalization of $71.28 billion, a PE ratio of 71.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. The company has a 50 day moving average price of $1,523.37 and a two-hundred day moving average price of $1,528.68. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.25 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 34.46 EPS for the current year.

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.