Terra Nova Asset Management LLC Sells 52 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Terra Nova Asset Management LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,213 shares of the company’s stock after selling 52 shares during the quarter. MercadoLibre makes up about 3.0% of Terra Nova Asset Management LLC’s holdings, making the stock its 4th largest holding. Terra Nova Asset Management LLC’s holdings in MercadoLibre were worth $3,478,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Northcape Capital Pty Ltd boosted its position in shares of MercadoLibre by 10.4% during the 4th quarter. Northcape Capital Pty Ltd now owns 84,785 shares of the company’s stock worth $133,243,000 after purchasing an additional 7,988 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $118,000. Assenagon Asset Management S.A. boosted its position in shares of MercadoLibre by 74.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 89,273 shares of the company’s stock worth $140,296,000 after buying an additional 38,176 shares in the last quarter. Meyer Handelman Co. purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $220,000. Finally, Armstrong Advisory Group Inc. boosted its position in shares of MercadoLibre by 1,000.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 55 shares of the company’s stock worth $86,000 after buying an additional 50 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Barclays upped their target price on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Susquehanna upped their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Wedbush restated an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Citigroup dropped their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,817.86.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,511.96 on Friday. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The business’s fifty day moving average price is $1,654.04 and its two-hundred day moving average price is $1,508.43. The firm has a market capitalization of $76.66 billion, a PE ratio of 77.38, a P/E/G ratio of 1.00 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business earned $3.25 earnings per share. MercadoLibre’s quarterly revenue was up 42.0% on a year-over-year basis. On average, research analysts expect that MercadoLibre, Inc. will post 36.06 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.