FourThought Financial Partners LLC Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

FourThought Financial Partners LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,976 shares of the company’s stock after selling 209 shares during the quarter. FourThought Financial Partners LLC’s holdings in MercadoLibre were worth $4,676,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MELI. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $28,000. Archer Investment Corp bought a new position in MercadoLibre during the 4th quarter valued at about $31,000. NBC Securities Inc. bought a new position in MercadoLibre during the 3rd quarter valued at about $35,000. Larson Financial Group LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $36,000. Finally, Blue Trust Inc. grew its stake in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after acquiring an additional 9 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays reduced their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Wedbush reissued an “outperform” rating and set a $1,800.00 price objective on shares of MercadoLibre in a research report on Friday. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 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. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $124.57 on Friday, hitting $1,630.56. 1,346,802 shares of the company traded hands, compared to its average volume of 395,765. 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 business has a 50-day simple moving average of $1,499.29 and a 200 day simple moving average of $1,537.76. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The stock has a market capitalization of $82.67 billion, a P/E ratio of 72.96, a price-to-earnings-growth ratio of 1.01 and a beta of 1.45.

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