IMA Wealth Inc. Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

IMA Wealth Inc. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 923 shares of the company’s stock after selling 13 shares during the quarter. IMA Wealth Inc.’s holdings in MercadoLibre were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $28,000. Archer Investment Corp purchased a new position in shares of MercadoLibre in the 4th quarter worth about $31,000. NBC Securities Inc. purchased a new position in shares of MercadoLibre in the 3rd quarter worth about $35,000. Larson Financial Group LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $36,000. Finally, Blue Trust Inc. raised its holdings in shares of MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after purchasing an additional 9 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI traded up $42.17 during midday trading on Friday, reaching $1,406.00. The stock had a trading volume of 443,331 shares, compared to its average volume of 319,014. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The firm’s 50 day moving average price is $1,523.37 and its 200-day moving average price is $1,528.68. The company has a market capitalization of $71.28 billion, a P/E ratio of 71.96, a P/E/G ratio of 0.91 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm posted $3.25 EPS. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 34.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MELI. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research note on Tuesday. Wedbush lowered their target price on MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. UBS Group lowered their target price on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Finally, Susquehanna increased their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,790.36.

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.