Union Bancaire Privee UBP SA cut its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 93.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 552 shares of the company’s stock after selling 7,921 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in MercadoLibre were worth $884,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new stake in shares of MercadoLibre during the 1st quarter worth $107,000. Maridea Wealth Management LLC raised its holdings in MercadoLibre by 16.6% in the first quarter. Maridea Wealth Management LLC now owns 914 shares of the company’s stock worth $1,580,000 after purchasing an additional 130 shares in the last quarter. Wealth Effects LLC raised its holdings in MercadoLibre by 367.6% in the first quarter. Wealth Effects LLC now owns 1,183 shares of the company’s stock worth $2,045,000 after purchasing an additional 930 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of MercadoLibre by 100.0% during the first quarter. Wesbanco Bank Inc. now owns 240 shares of the company’s stock valued at $415,000 after buying an additional 120 shares during the last quarter. Finally, Xcel Wealth Management LLC lifted its position in shares of MercadoLibre by 184.9% during the first quarter. Xcel Wealth Management LLC now owns 453 shares of the company’s stock valued at $783,000 after buying an additional 294 shares during the last quarter. 87.62% of the stock is owned by institutional investors.
Insider Buying and Selling at MercadoLibre
In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were purchased 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 $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by insiders.
MercadoLibre Price Performance
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business posted $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Scotiabank lowered their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and lowered their target price for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. UBS Group cut their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.
View Our Latest Analysis on MercadoLibre
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.
Featured Stories
- Five stocks we like better than MercadoLibre
- As Stablecoins Keep Growing, These 2 Stocks Benefit
- Apple Just Handed These 4 Memory Stocks Their Best News of the Year
- Costco’s Secret Growth Engine May Be Running Out of Gas
- Why Alphabet’s Pullback May Be an Opportunity in Disguise
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.
