Legato Capital Management LLC Sells 330 Shares of MercadoLibre, Inc. $MELI

Legato Capital Management LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,650 shares of the company’s stock after selling 330 shares during the period. Legato Capital Management LLC’s holdings in MercadoLibre were worth $5,338,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Weitz Investment Management Inc. bought a new position in MercadoLibre in the 3rd quarter valued at approximately $8,647,000. Barlow Wealth Partners Inc. raised its holdings in MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the last quarter. Principal Financial Group Inc. raised its holdings in MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after purchasing an additional 7,570 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in MercadoLibre by 65.0% during the 3rd quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock worth $6,258,000 after purchasing an additional 1,055 shares during the last quarter. Finally, Penserra Capital Management LLC raised its holdings in MercadoLibre by 34.5% during the 3rd quarter. Penserra Capital Management LLC now owns 3,014 shares of the company’s stock worth $7,042,000 after purchasing an additional 773 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. UBS Group lowered their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,664.42 on Friday. The company has a market cap of $84.39 billion, a price-to-earnings ratio of 43.93, a price-to-earnings-growth ratio of 1.03 and a beta of 1.41. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $1,721.55 and a 200-day moving average of $1,921.77.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business earned $9.74 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

MercadoLibre 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.