Erste Asset Management GmbH Has $48.38 Million Stock Position in MercadoLibre, Inc. $MELI

Erste Asset Management GmbH raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 21.0% in the 4th quarter, HoldingsChannel reports. The fund owned 24,051 shares of the company’s stock after acquiring an additional 4,173 shares during the period. Erste Asset Management GmbH’s holdings in MercadoLibre were worth $48,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 during the last quarter. Weitz Investment Management Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter valued at $8,647,000. Integrated Financial Solutions Inc. boosted its stake in shares of MercadoLibre by 129.7% in the 4th quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock valued at $4,248,000 after purchasing an additional 1,191 shares during the last quarter. Employees Retirement System of Texas boosted its stake in shares of MercadoLibre by 18.2% in 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. Finally, Rathbones Group PLC boosted its stake in shares of MercadoLibre by 54.4% in the 4th quarter. Rathbones Group PLC now owns 14,989 shares of the company’s stock valued at $30,192,000 after purchasing an additional 5,283 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased 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 owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of analyst reports. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Scotiabank reduced their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,607.80 on Monday. The firm 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. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company’s fifty day simple moving average is $1,720.81 and its 200 day simple moving average is $1,886.65. 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 (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share 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 business had revenue of $8.85 billion during 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% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal 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.