MercadoLibre, Inc. $MELI Stake Reduced by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,988 shares of the company’s stock after selling 3,432 shares during the period. MercadoLibre makes up 1.4% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 20th biggest holding. Comgest Global Investors S.A.S.’s holdings in MercadoLibre were worth $77,091,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre in the third quarter valued at $35,000. Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the last quarter. Curio Wealth LLC lifted its position in shares of MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth $39,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

MercadoLibre Trading Up 1.7%

NASDAQ:MELI opened at $2,009.05 on Thursday. The stock has a market cap of $101.86 billion, a PE ratio of 49.03, a price-to-earnings-growth ratio of 0.98 and a beta of 1.44. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The stock’s 50-day moving average is $2,062.99 and its two-hundred day moving average is $2,184.72.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Morgan Stanley boosted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Wednesday, February 4th. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,880.00.

About MercadoLibre

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.