Royal London Asset Management Ltd. Trims Holdings in MercadoLibre, Inc. $MELI

Royal London Asset Management Ltd. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 209,028 shares of the company’s stock after selling 11,626 shares during the quarter. MercadoLibre accounts for about 0.7% of Royal London Asset Management Ltd.’s holdings, making the stock its 21st largest position. Royal London Asset Management Ltd. owned about 0.41% of MercadoLibre worth $354,802,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $28,000. Wedbush Fund Advisers LLC bought a new position in shares of MercadoLibre in the second quarter valued at approximately $29,000. Finally, Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of several recent analyst reports. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Up 1.8%

MELI stock opened at $1,966.25 on Friday. The company’s 50 day moving average is $1,824.45 and its 200 day moving average is $1,772.36. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the business posted $10.31 earnings per share. MercadoLibre’s revenue for the quarter was up 49.8% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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.