Capital International Investors Boosts Stock Position in MercadoLibre, Inc. $MELI

Capital International Investors grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,725,125 shares of the company’s stock after acquiring an additional 118,018 shares during the period. Capital International Investors’ holdings in MercadoLibre were worth $3,474,880,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Group Investment Management PTE. LTD. increased its holdings in shares of MercadoLibre by 23.7% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 3,536 shares of the company’s stock worth $7,122,000 after purchasing an additional 677 shares during the period. Tradition Wealth Management LLC increased its holdings in shares of MercadoLibre by 62.1% in the fourth quarter. Tradition Wealth Management LLC now owns 154 shares of the company’s stock worth $310,000 after purchasing an additional 59 shares during the period. Vestcor Inc increased its holdings in shares of MercadoLibre by 5.2% in the fourth quarter. Vestcor Inc now owns 1,905 shares of the company’s stock worth $3,837,000 after purchasing an additional 94 shares during the period. Invst LLC increased its holdings in shares of MercadoLibre by 31.9% in the fourth quarter. Invst LLC now owns 331 shares of the company’s stock worth $667,000 after purchasing an additional 80 shares during the period. Finally, Patron Partners LLC increased its holdings in shares of MercadoLibre by 10.7% in the fourth quarter. Patron Partners LLC now owns 248 shares of the company’s stock worth $500,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.7%

MELI opened at $1,607.80 on Friday. The stock has a market cap of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The business’s fifty day simple moving average is $1,720.81 and its 200 day simple moving average is $1,887.84.

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

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

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.