ABN Amro Investment Solutions increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 67.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,225 shares of the company’s stock after buying an additional 4,103 shares during the quarter. ABN Amro Investment Solutions’ holdings in MercadoLibre were worth $20,596,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the last quarter. Capital Research Global Investors grew its stake in MercadoLibre by 3.4% during the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after buying an additional 59,838 shares during the last quarter. Capital World Investors grew its stake in MercadoLibre by 1.3% during the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after buying an additional 22,659 shares during the last quarter. Schroder Investment Management Group grew its stake in MercadoLibre by 9.8% during the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after buying an additional 50,893 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in MercadoLibre by 0.4% during the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after buying an additional 1,833 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on MELI. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. UBS Group decreased their price objective on 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. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Finally, Morgan Stanley decreased their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.
MercadoLibre Stock Up 3.5%
MELI opened at $1,651.20 on Thursday. 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 business has a 50 day simple moving average of $1,724.86 and a 200-day simple moving average of $1,928.17. The stock has a market capitalization of $83.72 billion, a P/E ratio of 43.58, a P/E/G ratio of 0.98 and a beta of 1.41. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly 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 business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.74 earnings per share. On average, equities analysts anticipate 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.
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