IFM Investors Pty Ltd Takes Position in MercadoLibre, Inc. $MELI

IFM Investors Pty Ltd acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,479 shares of the company’s stock, valued at approximately $16,389,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its stake in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in shares of MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association boosted its stake in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its holdings in shares of MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas grew its holdings in shares of MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after purchasing an additional 6,200 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MELI shares. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research note on Friday, May 8th. Benchmark dropped their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Morgan Stanley reduced their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Price Performance

MELI opened at $1,742.19 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $88.33 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The stock’s 50 day moving average price is $1,678.74 and its 200-day moving average price is $1,834.91. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

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

About MercadoLibre

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.