Congress Wealth Management LLC DE Has $625,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Congress Wealth Management LLC DE trimmed its position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 21.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398 shares of the company’s stock after selling 106 shares during the quarter. Congress Wealth Management LLC DE’s holdings in MercadoLibre were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Morgan Stanley grew its holdings in MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after buying an additional 236,744 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of MercadoLibre by 74.8% in the fourth quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock worth $1,838,964,000 after acquiring an additional 497,535 shares during the last quarter. William Blair Investment Management LLC increased its position in MercadoLibre by 6.1% during the third quarter. William Blair Investment Management LLC now owns 411,310 shares of the company’s stock worth $521,492,000 after acquiring an additional 23,699 shares during the period. Invesco Ltd. raised its stake in MercadoLibre by 10.2% during the 3rd quarter. Invesco Ltd. now owns 365,176 shares of the company’s stock valued at $462,999,000 after purchasing an additional 33,801 shares during the last quarter. Finally, Norges Bank bought a new stake in MercadoLibre in the 4th quarter valued at $554,386,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.9 %

Shares of MELI opened at $1,708.00 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The company has a market cap of $86.60 billion, a price-to-earnings ratio of 76.42, a PEG ratio of 1.24 and a beta of 1.45. The stock has a fifty day moving average price of $1,553.74 and a two-hundred day moving average price of $1,594.85. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the business posted $3.97 earnings per share. Analysts predict that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several research reports. Susquehanna increased their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Citigroup lowered their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their price objective for the stock from $1,400.00 to $2,100.00 in a report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,881.92.

Check Out Our Latest Stock Report on MercadoLibre

MercadoLibre Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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