MercadoLibre, Inc. $MELI Holdings Reduced by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 50.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,958 shares of the company’s stock after selling 1,982 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in MercadoLibre were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of MercadoLibre by 337.1% in the first quarter. Renaissance Technologies LLC now owns 120,320 shares of the company’s stock worth $208,036,000 after purchasing an additional 92,792 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of MercadoLibre by 2.2% during the first quarter. Gabelli Funds LLC now owns 463 shares of the company’s stock valued at $801,000 after purchasing an additional 10 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in MercadoLibre by 17.3% in the first quarter. Modern Wealth Management LLC now owns 1,201 shares of the company’s stock worth $2,064,000 after purchasing an additional 177 shares during the period. Cloverfields Capital Group LP lifted its holdings in MercadoLibre by 35.8% in the first quarter. Cloverfields Capital Group LP now owns 1,103 shares of the company’s stock worth $1,907,000 after purchasing an additional 291 shares during the period. Finally, Liberty One Investment Management LLC grew its position in MercadoLibre by 19.0% in the 1st quarter. Liberty One Investment Management LLC now owns 282 shares of the company’s stock valued at $488,000 after buying an additional 45 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

Shares of MELI opened at $1,801.44 on Friday. The firm’s 50 day moving average is $1,705.94 and its 200-day moving average is $1,815.81. The stock has a market capitalization of $91.33 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its 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 the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.74 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on MELI. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Citigroup raised their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, BTIG Research restated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

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.