Ilmarinen Mutual Pension Insurance Co Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 42.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the company’s stock after purchasing an additional 3,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in MercadoLibre were worth $17,004,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. Arrowstreet Capital Limited Partnership lifted its position in MercadoLibre by 0.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after purchasing an additional 2,048 shares during the last quarter. Schroder Investment Management Group raised its position in shares of MercadoLibre by 9.4% during the 4th quarter. Schroder Investment Management Group now owns 443,156 shares of the company’s stock valued at $753,560,000 after buying an additional 38,261 shares in the last quarter. State Street Corp raised its position in shares of MercadoLibre by 3.1% during the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of MercadoLibre by 8.9% during the 4th quarter. Wellington Management Group LLP now owns 380,956 shares of the company’s stock worth $647,793,000 after acquiring an additional 31,278 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new position in MercadoLibre in the fourth quarter worth $565,306,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MELI shares. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. Finally, Wedbush cut their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two 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.com, the stock has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,841.29 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The firm has a market cap of $93.35 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.64. The business’s 50 day moving average price is $2,036.90 and its 200-day moving average price is $1,968.60.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.