Royal London Asset Management Ltd. Lowers Position in MercadoLibre, Inc. $MELI

Royal London Asset Management Ltd. decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 227,467 shares of the company’s stock after selling 3,026 shares during the period. MercadoLibre accounts for 1.0% of Royal London Asset Management Ltd.’s portfolio, making the stock its 15th largest position. Royal London Asset Management Ltd.’s holdings in MercadoLibre were worth $458,178,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MELI. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth $26,000. Curio Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new position in MercadoLibre in the third quarter valued at $35,000. Finally, Holos Integrated Wealth LLC acquired a new position in MercadoLibre in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research analyst reports. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. 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 stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

MercadoLibre Trading Down 1.3%

Shares of MELI opened at $1,589.60 on Friday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The stock’s 50-day moving average is $1,715.68 and its two-hundred day moving average is $1,873.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The stock has a market cap of $80.59 billion, a PE ratio of 41.95, a P/E/G ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last announced its earnings results 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 analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.74 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

MercadoLibre Company 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.