MercadoLibre, Inc. $MELI Stock Position Raised by Capital Research Global Investors

Capital Research Global Investors raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 22.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,225,031 shares of the company’s stock after buying an additional 408,939 shares during the period. MercadoLibre accounts for 0.8% of Capital Research Global Investors’ investment portfolio, making the stock its 24th largest holding. Capital Research Global Investors’ holdings in MercadoLibre were worth $4,481,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Assenagon Asset Management S.A. raised its stake in shares of MercadoLibre by 803.4% during the 4th 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. Norges Bank purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $597,045,000. Baillie Gifford & Co. raised its stake in shares of MercadoLibre by 4.9% during the 4th 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. Capital International Investors raised its stake in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of MercadoLibre by 28.4% during the 3rd 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. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Benchmark cut their price target on 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. UBS Group cut their price target 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. Scotiabank cut 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 note on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Morgan Stanley cut their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

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. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a market capitalization of $81.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued 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). 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 the consensus estimate of $8.29 billion. During the same period in the previous year, the business posted $9.74 earnings per share. The firm’s revenue was up 49.0% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Buying and Selling at MercadoLibre

In related 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 acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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.