Ensign Peak Advisors Inc Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Ensign Peak Advisors Inc lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.6% during the fourth quarter, HoldingsChannel reports. The firm owned 39,903 shares of the company’s stock after selling 8,531 shares during the period. Ensign Peak Advisors Inc’s holdings in MercadoLibre were worth $67,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Human Investing LLC acquired a new position in MercadoLibre during the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares in the last quarter. Covestor Ltd purchased a new position in MercadoLibre during the fourth quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth $32,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.8 %

Shares of MELI opened at $2,452.53 on Friday. The company’s 50-day simple moving average is $2,081.98 and its 200-day simple moving average is $1,982.42. 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 1 year low of $1,550.00 and a 1 year high of $2,501.00. The stock has a market capitalization of $124.34 billion, a PE ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm’s revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the company posted $6.78 EPS. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Susquehanna upped 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. Finally, Benchmark cut MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,504.67.

About MercadoLibre

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.