MercadoLibre, Inc. $MELI Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 73,157 shares of the company’s stock after acquiring an additional 3,998 shares during the period. Hsbc Holdings PLC’s holdings in MercadoLibre were worth $147,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Redwood Family Wealth LLC acquired a new stake in MercadoLibre during the fourth quarter worth approximately $210,000. Pure Financial Advisors LLC boosted its holdings in shares of MercadoLibre by 9.6% in the 4th quarter. Pure Financial Advisors LLC now owns 137 shares of the company’s stock valued at $276,000 after buying an additional 12 shares in the last quarter. SHP Wealth Management acquired a new position in shares of MercadoLibre in the 4th quarter valued at $673,000. EJMK Ventures LLC purchased a new position in shares of MercadoLibre in the 4th quarter valued at $369,000. Finally, NWF Advisory Services Inc. purchased a new position in shares of MercadoLibre in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,635.15 on Friday. The company’s 50 day simple moving average is $1,706.94 and its 200-day simple moving average is $1,859.91. The firm has a market cap of $82.90 billion, a PE ratio of 43.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. 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.

MercadoLibre (NASDAQ:MELI) last released 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). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $9.74 EPS. As a group, equities analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MELI. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. Finally, Benchmark reduced their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. One 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 given a Sell rating to the company. According to data from MarketBeat, the stock 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.