AEGON ASSET MANAGEMENT UK Plc Sells 3,523 Shares of MercadoLibre, Inc. $MELI

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,088 shares of the company’s stock after selling 3,523 shares during the period. MercadoLibre accounts for approximately 0.9% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 26th biggest position. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.05% of MercadoLibre worth $70,685,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Invesco Ltd. grew its holdings in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC grew its holdings in MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the period. Nuveen LLC acquired a new stake in MercadoLibre during the 1st quarter worth about $143,367,000. Finally, Goldman Sachs Group Inc. grew its holdings in MercadoLibre by 18.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after acquiring an additional 70,834 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MELI. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reissued a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Finally, Barclays cut their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,810.88.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,157.82 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market cap of $109.40 billion, a price-to-earnings ratio of 53.29, a PEG ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm’s 50-day simple moving average is $2,354.09 and its 200 day simple moving average is $2,347.41.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the business posted $10.48 EPS. MercadoLibre’s revenue was up 33.8% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.