MercadoLibre, Inc. (NASDAQ:MELI) is Knuff & Co LLC’s 8th Largest Position

Knuff & Co LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 17.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,449 shares of the company’s stock after acquiring an additional 662 shares during the quarter. MercadoLibre makes up approximately 2.5% of Knuff & Co LLC’s holdings, making the stock its 8th largest position. Knuff & Co LLC’s holdings in MercadoLibre were worth $6,992,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its holdings in shares of MercadoLibre by 99.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock valued at $67,900,000 after purchasing an additional 26,679 shares in the last quarter. Townsquare Capital LLC grew its stake in MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock valued at $1,964,000 after buying an additional 14 shares during the last quarter. California Public Employees Retirement System grew its stake in MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock valued at $113,237,000 after buying an additional 1,277 shares during the last quarter. Vanguard Group Inc. grew its stake in MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock valued at $226,716,000 after buying an additional 4,065 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after buying an additional 146,034 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MELI shares. UBS Group lowered their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Citigroup lowered their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research report on Tuesday, April 23rd. Finally, Wedbush restated an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research report on Friday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded up $124.57 during trading on Friday, hitting $1,630.56. 1,346,802 shares of the company’s stock traded hands, compared to its average volume of 395,765. 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 fifty day moving average price is $1,499.29 and its 200 day moving average price is $1,537.76. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The company has a market cap of $82.67 billion, a PE ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the business earned $3.97 EPS. The firm’s revenue was up 36.0% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 34.46 earnings per share for the current 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.