Boothbay Fund Management LLC Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Boothbay Fund Management LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 53.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 467 shares of the company’s stock after selling 534 shares during the quarter. Boothbay Fund Management LLC’s holdings in MercadoLibre were worth $794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Capital Research Global Investors raised its holdings in shares of MercadoLibre by 8.0% in the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock valued at $4,108,079,000 after acquiring an additional 179,807 shares in the last quarter. Capital International Investors raised its stake in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Capital World Investors raised its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock valued at $2,667,386,000 after purchasing an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in MercadoLibre by 0.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after buying an additional 2,048 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MELI. Citigroup reaffirmed a “buy” rating on shares of MercadoLibre in a report on Tuesday, April 15th. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. New Street Research raised 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 research note on Thursday, January 30th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $2,464.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,280.86 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $2,056.42 and its 200 day simple moving average is $1,968.17. The stock has a market cap of $115.63 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a twelve month low of $1,427.95 and a twelve month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share 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 firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 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.