Flputnam Investment Management Co. Grows Stock Position in MercadoLibre, Inc. $MELI

Flputnam Investment Management Co. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1,395.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,012 shares of the company’s stock after buying an additional 6,543 shares during the quarter. Flputnam Investment Management Co.’s holdings in MercadoLibre were worth $16,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Jennison Associates LLC grew its holdings in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the period. Lavaca Capital LLC boosted its holdings in shares of MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. Generation Investment Management LLP increased its holdings in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after buying an additional 16,878 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of MercadoLibre by 16.6% during the 2nd quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after buying an additional 74,201 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In related news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the sale, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,997.61 on Friday. The business’s 50-day simple moving average is $2,098.11 and its 200 day simple moving average is $2,293.39. The company has a market cap of $101.28 billion, a P/E ratio of 48.75, a PEG ratio of 1.48 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.83 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Wedbush cut their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a report on Friday. Barclays boosted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Susquehanna reduced their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,842.94.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.