Nomura Asset Management Co. Ltd. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 11.5% during the fourth quarter, Holdings Channel reports. The fund owned 16,204 shares of the company’s stock after selling 2,110 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $32,639,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Portland Global Advisors LLC raised its stake in MercadoLibre by 10.2% in the 4th quarter. Portland Global Advisors LLC now owns 3,423 shares of the company’s stock valued at $6,895,000 after acquiring an additional 318 shares during the period. Mitchell Capital Management Co. raised its stake in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the period. AXS Investments LLC raised its stake in MercadoLibre by 12.7% in the 4th quarter. AXS Investments LLC now owns 719 shares of the company’s stock valued at $1,448,000 after acquiring an additional 81 shares during the period. Founders Financial Securities LLC raised its stake in MercadoLibre by 20.5% in the 4th quarter. Founders Financial Securities LLC now owns 135 shares of the company’s stock valued at $273,000 after acquiring an additional 23 shares during the period. Finally, Titan Global Capital Management USA LLC raised its stake in MercadoLibre by 1.9% in the 4th quarter. Titan Global Capital Management USA LLC now owns 1,007 shares of the company’s stock valued at $2,028,000 after acquiring an additional 19 shares during the period. Institutional investors own 87.62% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on MELI. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. BTIG Research lowered their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Finally, Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. One 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 assigned a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.
MercadoLibre Stock Performance
MELI opened at $1,730.98 on Tuesday. The firm has a market cap of $87.76 billion, a P/E ratio of 45.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.36. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The business’s fifty day moving average is $1,720.80 and its 200-day moving average is $1,898.53.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period last year, the company posted $9.74 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.
Insiders Place Their Bets
In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value 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. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company insiders.
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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