Northwest & Ethical Investments L.P. Sells 279 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Northwest & Ethical Investments L.P. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 9,666 shares of the company’s stock after selling 279 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in MercadoLibre were worth $16,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of MELI. Human Investing LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. boosted its holdings in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth $32,000. Finally, Mather Group LLC. boosted its holdings in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after buying an additional 12 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. Barclays upped their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush dropped their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Up 3.2 %

Shares of MercadoLibre stock opened at $2,065.94 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a fifty day moving average price of $1,984.29 and a 200 day moving average price of $1,970.03. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The stock has a market cap of $104.74 billion, a PE ratio of 54.80, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.