Wellington Management Group LLP Has $194.71 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Wellington Management Group LLP lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 123,897 shares of the company’s stock after selling 19,010 shares during the quarter. Wellington Management Group LLP owned approximately 0.24% of MercadoLibre worth $194,709,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vima LLC bought a new stake in MercadoLibre during the 4th quarter worth about $185,000. Royal London Asset Management Ltd. grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 196,953 shares of the company’s stock worth $309,520,000 after acquiring an additional 1,034 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in MercadoLibre during the 4th quarter worth about $610,000. Transcendent Capital Group LLC bought a new stake in MercadoLibre during the 4th quarter worth about $38,000. Finally, Scarborough Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $36,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,573.40 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The company has a market capitalization of $79.77 billion, a P/E ratio of 70.40, a price-to-earnings-growth ratio of 1.16 and a beta of 1.60. The company’s 50 day moving average price is $1,584.78 and its two-hundred day moving average price is $1,605.82. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 target price on shares of MercadoLibre in a research note on Friday, May 3rd. UBS Group reduced 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. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Company 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.