MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 50,592 shares of the company’s stock after selling 4,195 shares during the period. Federated Hermes Inc. owned about 0.10% of MercadoLibre worth $86,029,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Human Investing LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its holdings in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $32,000. Finally, Mather Group LLC. raised its holdings in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,841.29 on Monday. The business’s 50-day simple moving average is $2,036.90 and its 200-day simple moving average is $1,966.91. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $93.35 billion, a price-to-earnings ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MELI. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America lifted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. 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 research report on Tuesday, January 21st. Two 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $2,402.81.

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.