MercadoLibre, Inc. (NASDAQ:MELI) is RWC Asset Advisors US LLC’s 6th Largest Position

RWC Asset Advisors US LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,566 shares of the company’s stock after purchasing an additional 8,813 shares during the period. MercadoLibre makes up 7.4% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 6th largest holding. RWC Asset Advisors US LLC owned 0.12% of MercadoLibre worth $93,610,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MELI. Handelsbanken Fonder AB grew its position in MercadoLibre by 0.4% during the third quarter. Handelsbanken Fonder AB now owns 21,943 shares of the company’s stock valued at $27,821,000 after buying an additional 96 shares during the period. Simplicity Solutions LLC grew its position in MercadoLibre by 6.4% during the third quarter. Simplicity Solutions LLC now owns 975 shares of the company’s stock valued at $1,236,000 after buying an additional 59 shares during the period. Slow Capital Inc. grew its position in MercadoLibre by 4.8% during the third quarter. Slow Capital Inc. now owns 9,865 shares of the company’s stock valued at $12,508,000 after buying an additional 453 shares during the period. Northcape Capital Pty Ltd grew its position in MercadoLibre by 5.2% during the third quarter. Northcape Capital Pty Ltd now owns 76,797 shares of the company’s stock valued at $97,369,000 after buying an additional 3,783 shares during the period. Finally, Hardman Johnston Global Advisors LLC grew its position in MercadoLibre by 70.9% during the third quarter. Hardman Johnston Global Advisors LLC now owns 203,083 shares of the company’s stock valued at $257,485,000 after buying an additional 84,239 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 3.1 %

Shares of MercadoLibre stock traded up $42.17 on Friday, reaching $1,406.00. The stock had a trading volume of 443,331 shares, compared to its average volume of 319,014. The company has a 50 day moving average price of $1,523.37 and a 200 day moving average price of $1,528.68. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 1 year low of $1,063.02 and a 1 year high of $1,825.00. The stock has a market capitalization of $71.28 billion, a P/E ratio of 71.96, a P/E/G ratio of 0.91 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released 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 company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.25 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 34.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MELI shares. DZ Bank upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 target price for the company in a research report on Tuesday. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Barclays dropped their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, Citigroup dropped their price target on shares of 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price 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.