Capital World Investors Lowers Holdings in MercadoLibre, Inc. $MELI

Capital World Investors trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,706,673 shares of the company’s stock after selling 33,456 shares during the quarter. Capital World Investors’ holdings in MercadoLibre were worth $3,437,707,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Capital Research Global Investors lifted its holdings in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Sarl lifted its holdings in shares of MercadoLibre by 22.8% in the 4th quarter. Capital International Sarl now owns 32,416 shares of the company’s stock worth $65,294,000 after buying an additional 6,015 shares during the period. Capital International Ltd. CA lifted its holdings in shares of MercadoLibre by 22.0% in the 4th quarter. Capital International Ltd. CA now owns 16,168 shares of the company’s stock worth $32,567,000 after buying an additional 2,919 shares during the period. Capital International Inc. CA lifted its holdings in shares of MercadoLibre by 1.6% in the 4th quarter. Capital International Inc. CA now owns 53,557 shares of the company’s stock worth $107,878,000 after buying an additional 827 shares during the period. Finally, Capital International Investors lifted its holdings in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MELI shares. BTIG Research reiterated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Scotiabank reduced their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Finally, Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. One research 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 1.7%

Shares of MELI stock opened at $1,607.80 on Friday. The stock’s 50-day simple moving average is $1,720.81 and its 200-day simple moving average is $1,887.84. 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 firm has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the prior year, the company posted $9.74 earnings per share. Equities analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

MercadoLibre 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.