Fullerton Fund Management Co Ltd. Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Fullerton Fund Management Co Ltd. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 113.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576 shares of the company’s stock after buying an additional 306 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in MercadoLibre were worth $979,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Capital Research Global Investors grew its stake in shares of MercadoLibre by 8.0% in the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the period. Capital International Investors boosted its holdings in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Capital World Investors grew its position in MercadoLibre by 24.5% in the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 41.0% during the 4th 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 buying an additional 405,425 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock valued at $927,239,000 after buying an additional 2,048 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of a number of research reports. Bank of America upped their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. 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 report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,504.67.

MercadoLibre Stock Up 1.8 %

Shares of MELI opened at $2,452.53 on Friday. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,501.00. The business’s 50 day moving average is $2,081.98 and its 200 day moving average is $1,982.42. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $124.34 billion, a PE ratio of 65.05, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61.

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

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.