Legal & General Group Plc Raises Stock Holdings in MercadoLibre, Inc. $MELI

Legal & General Group Plc boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 245,310 shares of the company’s stock after purchasing an additional 5,618 shares during the quarter. Legal & General Group Plc owned approximately 0.48% of MercadoLibre worth $494,118,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MELI. Assenagon Asset Management S.A. boosted its position in MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares in the last quarter. Flossbach Von Storch SE boosted its position in MercadoLibre by 1,669.4% during the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock worth $424,666,000 after purchasing an additional 171,449 shares in the last quarter. Baillie Gifford & Co. boosted its position in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Wellington Management Group LLP boosted its position in MercadoLibre by 28.4% during the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after purchasing an additional 109,228 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in MercadoLibre by 29.0% during the third quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after purchasing an additional 93,854 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $1,664.42 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. 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 company has a market cap of $84.39 billion, a price-to-earnings ratio of 43.93, a PEG ratio of 1.03 and a beta of 1.41. The firm has a 50-day moving average of $1,721.23 and a two-hundred day moving average of $1,914.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $9.74 EPS. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. Scotiabank reduced their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a report on Wednesday, May 13th. Finally, Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.