Triasima Portfolio Management inc. Raises Stock Position in MercadoLibre, Inc. $MELI

Triasima Portfolio Management inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.4% in the third quarter, HoldingsChannel.com reports. The fund owned 3,470 shares of the company’s stock after purchasing an additional 270 shares during the period. MercadoLibre makes up about 1.2% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 22nd biggest position. Triasima Portfolio Management inc.’s holdings in MercadoLibre were worth $8,109,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC raised its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Lavaca Capital LLC increased its stake in MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of MercadoLibre by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock valued at $709,535,000 after acquiring an additional 9,474 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of MercadoLibre in the second quarter worth approximately $698,848,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 0.6%

MELI opened at $2,061.74 on Tuesday. The stock has a market capitalization of $104.53 billion, a PE ratio of 49.94, a P/E/G ratio of 1.03 and a beta of 1.42. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The business’s 50 day moving average price is $2,049.07 and its 200 day moving average price is $2,232.48.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.83 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on MELI shares. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Benchmark reduced their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Morgan Stanley increased their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,842.94.

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.