IMA Wealth Inc. Has $1.45 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

IMA Wealth Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 923 shares of the company’s stock after selling 13 shares during the period. IMA Wealth Inc.’s holdings in MercadoLibre were worth $1,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MELI. WCM Investment Management LLC increased its holdings in MercadoLibre by 74.8% during the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after purchasing an additional 497,535 shares in the last quarter. Morgan Stanley increased its holdings in MercadoLibre by 10.2% during the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after purchasing an additional 236,744 shares in the last quarter. International Assets Investment Management LLC increased its holdings in MercadoLibre by 112,333.8% during the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in MercadoLibre by 108.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock valued at $248,475,000 after purchasing an additional 101,757 shares in the last quarter. Finally, Hardman Johnston Global Advisors LLC increased its holdings in MercadoLibre by 70.9% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 203,083 shares of the company’s stock valued at $257,485,000 after purchasing an additional 84,239 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 3.1 %

MELI stock traded up $42.17 during midday trading on Friday, hitting $1,406.00. 443,331 shares of the company’s stock were exchanged, compared to its average volume of 319,014. The stock’s fifty day moving average price is $1,523.37 and its 200-day moving average price is $1,528.68. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The company has a market cap of $71.28 billion, a PE ratio of 71.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.44. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00.

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

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. UBS Group decreased their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Barclays decreased their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a research report on Tuesday. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $1,790.36.

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.