FDx Advisors Inc. Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

FDx Advisors Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418 shares of the company’s stock after selling 90 shares during the quarter. FDx Advisors Inc.’s holdings in MercadoLibre were worth $711,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC increased its holdings in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. State Street Corp increased its holdings in MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock worth $830,190,000 after acquiring an additional 12,000 shares in the last quarter. Wellington Management Group LLP increased its holdings in MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent analyst reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $2,244.69.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Trading Up 1.7 %

Shares of MELI opened at $2,110.47 on Friday. The firm’s fifty day moving average is $1,858.57 and its two-hundred day moving average is $1,952.94. 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 stock has a market cap of $107.00 billion, a PE ratio of 74.47, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. Research analysts forecast that MercadoLibre, Inc. will post 32.98 earnings per share for the current fiscal 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.