Polar Capital Holdings Plc reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 60.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,951 shares of the company’s stock after selling 42,651 shares during the quarter. Polar Capital Holdings Plc’s holdings in MercadoLibre were worth $56,301,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of MELI. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $26,000. Curio Wealth LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre during the third quarter valued at about $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Analyst Ratings Changes
MELI has been the topic of several research reports. Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.
Insider Transactions at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.
MercadoLibre Stock Up 1.7%
Shares of NASDAQ:MELI opened at $1,674.08 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $1,713.47 and a two-hundred day simple moving average of $1,867.47. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $84.88 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 1.01 and a beta of 1.36.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $8.23 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 company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the company posted $9.74 earnings per share. The company’s revenue was up 49.0% on a year-over-year basis. On average, research 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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