MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by American International Group Inc.

American International Group Inc. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,513 shares of the company’s stock after buying an additional 100 shares during the quarter. American International Group Inc.’s holdings in MercadoLibre were worth $5,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MELI. Turtle Creek Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $31,000. Larson Financial Group LLC bought a new position in MercadoLibre during the fourth quarter valued at about $36,000. DSM Capital Partners LLC acquired a new position in MercadoLibre during the fourth quarter worth about $36,000. Finally, Blue Trust Inc. raised its position in MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after acquiring an additional 9 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. New Street Research cut shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. DZ Bank upgraded 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 upped their target price on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, Wedbush reissued an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,881.92.

MercadoLibre Stock Performance

Shares of MELI opened at $1,600.05 on Friday. 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 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The company has a market capitalization of $81.12 billion, a PE ratio of 71.59, a PEG ratio of 1.15 and a beta of 1.60. The company’s 50 day moving average price is $1,591.35 and its 200 day moving average price is $1,605.46.

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