Northcape Capital Pty Ltd Purchases 10,307 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Northcape Capital Pty Ltd grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELIGet Rating) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,235 shares of the company’s stock after purchasing an additional 10,307 shares during the quarter. MercadoLibre makes up 15.9% of Northcape Capital Pty Ltd’s holdings, making the stock its 4th biggest holding. Northcape Capital Pty Ltd owned approximately 0.30% of MercadoLibre worth $128,827,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Baron Silver Stevens Financial Advisors LLC bought a new position in shares of MercadoLibre during the third quarter worth about $456,000. Amalgamated Bank raised its position in shares of MercadoLibre by 93.8% during the third quarter. Amalgamated Bank now owns 31 shares of the company’s stock worth $26,000 after acquiring an additional 15 shares during the last quarter. Huntington National Bank raised its position in shares of MercadoLibre by 45.8% during the third quarter. Huntington National Bank now owns 35 shares of the company’s stock worth $29,000 after acquiring an additional 11 shares during the last quarter. Atlas Capital Advisors LLC raised its position in shares of MercadoLibre by 414.3% during the third quarter. Atlas Capital Advisors LLC now owns 36 shares of the company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Finally, Tsfg LLC raised its position in shares of MercadoLibre by 428.6% during the third quarter. Tsfg LLC now owns 37 shares of the company’s stock worth $31,000 after acquiring an additional 30 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MELI. Credit Suisse Group raised their price objective on MercadoLibre from $1,450.00 to $1,685.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 21st. TheStreet upgraded MercadoLibre from a “c” rating to a “b-” rating in a report on Wednesday, February 15th. BTIG Research lifted their target price on MercadoLibre from $1,245.00 to $1,400.00 and gave the stock a “buy” rating in a report on Friday, February 24th. Citigroup lifted their target price on MercadoLibre from $1,100.00 to $1,460.00 in a report on Friday, March 3rd. Finally, StockNews.com began coverage on MercadoLibre in a report on Thursday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,305.00.

MercadoLibre Stock Down 1.1 %

Shares of NASDAQ MELI traded down $13.59 during midday trading on Friday, hitting $1,201.15. 641,854 shares of the stock traded hands, compared to its average volume of 546,996. The company has a market cap of $60.37 billion, a PE ratio of 125.91, a P/E/G ratio of 1.78 and a beta of 1.59. MercadoLibre, Inc. has a one year low of $600.68 and a one year high of $1,275.82. The business has a 50 day moving average price of $1,143.01 and a two-hundred day moving average price of $976.86. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELIGet Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.25 EPS for the quarter, beating the consensus estimate of $2.11 by $1.14. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.96 billion. MercadoLibre had a return on equity of 29.09% and a net margin of 4.57%. The company’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.92) earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 15.96 EPS for the current year.

Insider Activity

In related news, Director Emiliano Calemzuk sold 150 shares of MercadoLibre stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the transaction, the director now owns 115 shares of the company’s stock, valued at $144,440. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

MercadoLibre Company Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.

See Also

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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