Coronation Fund Managers Ltd. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 11.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 157,804 shares of the company’s stock after acquiring an additional 16,019 shares during the period. MercadoLibre makes up about 12.4% of Coronation Fund Managers Ltd.’s holdings, making the stock its largest holding. Coronation Fund Managers Ltd.’s holdings in MercadoLibre were worth $272,846,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Brown Advisory Inc. boosted its position in shares of MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after acquiring an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the last quarter. TIAA Trust National Association boosted its holdings in MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC grew its position in MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas increased its holdings in shares of MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after purchasing an additional 6,200 shares during the period. 87.62% of the stock is owned by institutional investors.
MercadoLibre Stock Performance
Shares of NASDAQ:MELI opened at $1,799.21 on Thursday. The business’s fifty day moving average price is $1,697.03 and its two-hundred day moving average price is $1,817.14. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a market capitalization of $91.22 billion, a price-to-earnings ratio of 47.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. 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 research note on Friday, May 8th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.
Read Our Latest Analysis on MercadoLibre
Insider Activity
In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is owned by company 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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