ING Groep NV lessened its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 54.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,206 shares of the company’s stock after selling 1,450 shares during the period. ING Groep NV’s holdings in MercadoLibre were worth $2,429,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $206,000. Empowered Funds LLC grew its position in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth grew its position in shares of MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares during the period. Sivia Capital Partners LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL grew its position in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after acquiring an additional 30 shares during the period. Institutional investors own 87.62% of the company’s stock.
Analysts Set New Price Targets
MELI has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of 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. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Benchmark reduced their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.
MercadoLibre Stock Performance
Shares of MELI stock opened at $1,641.16 on Wednesday. The company has a market capitalization of $83.21 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.36. 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 company has a 50-day simple moving average of $1,721.27 and a 200 day simple moving average of $1,880.43. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its 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 company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.74 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.
Insider Transactions at MercadoLibre
In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by corporate insiders.
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.
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