RWC Asset Management LLP Has $38.19 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

RWC Asset Management LLP boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,301 shares of the company’s stock after acquiring an additional 2,961 shares during the period. MercadoLibre accounts for 2.3% of RWC Asset Management LLP’s investment portfolio, making the stock its 15th biggest holding. RWC Asset Management LLP’s holdings in MercadoLibre were worth $38,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $28,000. Archer Investment Corp bought a new position in shares of MercadoLibre during the 4th quarter worth about $31,000. Larson Financial Group LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $36,000. Blue Trust Inc. increased its stake in MercadoLibre by 56.3% in the fourth quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after acquiring an additional 9 shares during the period. Finally, Disciplined Equity Management Inc. bought a new stake in MercadoLibre in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock traded up $42.17 during midday trading on Friday, hitting $1,406.00. 443,331 shares of the company were exchanged, compared to its average volume of 319,014. The firm has a market capitalization of $71.28 billion, a P/E ratio of 71.96, a PEG ratio of 0.91 and a beta of 1.44. 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 firm’s 50 day moving average price is $1,523.37 and its two-hundred day moving average price is $1,528.68. MercadoLibre, Inc. has a 52 week low of $1,063.02 and a 52 week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The business had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’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 earned $3.25 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. 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. Wedbush decreased their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a research note on Wednesday. Susquehanna raised their price objective on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. UBS Group reduced their price objective 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, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

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.