Van ECK Associates Corp Sells 12,151 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Van ECK Associates Corp cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,020 shares of the company’s stock after selling 12,151 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of MercadoLibre worth $58,178,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. WCM Investment Management LLC grew its position in shares of MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after buying an additional 497,535 shares during the last quarter. Morgan Stanley increased its position in shares of MercadoLibre by 10.2% during the third quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock worth $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in MercadoLibre by 108.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock worth $248,475,000 after buying an additional 101,757 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its stake in MercadoLibre by 39.3% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 205,105 shares of the company’s stock valued at $322,331,000 after buying an additional 57,837 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MELI shares. Barclays cut their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a report on Wednesday, April 3rd. Wedbush cut 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, April 24th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a report on Tuesday, April 23rd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, UBS Group reduced their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,790.36.

MercadoLibre Trading Up 2.3 %

Shares of MercadoLibre stock traded up $33.36 on Tuesday, reaching $1,471.72. The company had a trading volume of 181,516 shares, compared to its average volume of 381,800. 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 firm has a market cap of $74.62 billion, a PE ratio of 73.61, a PEG ratio of 0.94 and a beta of 1.44. The firm’s 50 day moving average price is $1,516.76 and its two-hundred day moving average price is $1,534.06. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00.

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