145 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Bought by Allstate Corp

Allstate Corp purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 145 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wealthspire Advisors LLC raised its stake in MercadoLibre by 1.8% in the fourth quarter. Wealthspire Advisors LLC now owns 391 shares of the company’s stock valued at $614,000 after buying an additional 7 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of MercadoLibre by 1.2% in the fourth quarter. Independent Advisor Alliance now owns 586 shares of the company’s stock valued at $921,000 after purchasing an additional 7 shares during the period. Gateway Advisory LLC increased its holdings in shares of MercadoLibre by 1.9% in the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after purchasing an additional 8 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of MercadoLibre by 6.2% in the fourth quarter. Contravisory Investment Management Inc. now owns 138 shares of the company’s stock valued at $217,000 after purchasing an additional 8 shares during the period. Finally, Vestor Capital LLC increased its holdings in shares of MercadoLibre by 10.0% in the fourth quarter. Vestor Capital LLC now owns 88 shares of the company’s stock valued at $138,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and issued a $1,800.00 price objective on shares of MercadoLibre in a report on Friday, May 3rd. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price on the stock in a report on Tuesday, April 23rd. Susquehanna raised their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Barclays raised their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $2,100.00 in a report on Monday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded up $4.11 during midday trading on Friday, hitting $1,711.51. The stock had a trading volume of 139,633 shares, compared to its average volume of 393,850. The company has a market capitalization of $86.77 billion, a PE ratio of 76.39, a P/E/G ratio of 1.27 and a beta of 1.45. The stock has a 50 day simple moving average of $1,542.40 and a 200-day simple moving average of $1,584.82. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The company has a quick ratio of 1.25, a current ratio of 1.27 and a debt-to-equity ratio of 0.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 EPS for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the business posted $3.97 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

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.