MercadoLibre, Inc. $MELI Holdings Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.3% in the third quarter, HoldingsChannel reports. The fund owned 86,699 shares of the company’s stock after purchasing an additional 10,849 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in MercadoLibre were worth $202,610,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the second quarter worth approximately $29,000. Highline Wealth Partners LLC raised its stake in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Curio Wealth LLC raised its stake in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at $39,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the third quarter valued at about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In other news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock worth $2,308,788 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of several research reports. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Morgan Stanley upped their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Stock Performance

Shares of MELI opened at $2,075.01 on Tuesday. The company has a 50-day moving average of $2,049.07 and a two-hundred day moving average of $2,232.48. The stock has a market cap of $105.20 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.03 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter last year, the company posted $7.83 EPS. The firm’s revenue was up 39.5% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.