E Fund Management Co. Ltd. Trims Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

E Fund Management Co. Ltd. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 466 shares of the company’s stock after selling 35 shares during the period. E Fund Management Co. Ltd.’s holdings in MercadoLibre were worth $732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Synergy Financial Group LTD lifted its position in shares of MercadoLibre by 0.5% during the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock worth $2,030,000 after acquiring an additional 8 shares in the last quarter. Gateway Advisory LLC lifted its holdings in MercadoLibre by 1.9% during the 3rd quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock worth $545,000 after purchasing an additional 8 shares in the last quarter. Contravisory Investment Management Inc. boosted its position 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 acquiring an additional 8 shares during the period. Catalyst Capital Advisors LLC increased its holdings in MercadoLibre by 32.1% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock worth $47,000 after acquiring an additional 9 shares during the period. Finally, Blue Trust Inc. raised its position in shares of MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock worth $39,000 after buying an additional 9 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on MELI shares. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Citigroup cut their target price 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. Susquehanna lifted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,800.00 price target on shares of MercadoLibre in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

MercadoLibre Stock Up 1.7 %

MercadoLibre stock traded up $28.09 during mid-day trading on Wednesday, reaching $1,716.78. The stock had a trading volume of 485,251 shares, compared to its average volume of 406,914. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,825.00. The company has a market capitalization of $87.04 billion, a price-to-earnings ratio of 76.81, a PEG ratio of 1.09 and a beta of 1.45. The company has a 50-day moving average price of $1,501.79 and a two-hundred day moving average price of $1,549.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.97 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 34.46 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.