MercadoLibre, Inc. $MELI Shares Sold by Korea Investment CORP

Korea Investment CORP trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.9% in the third quarter, Holdings Channel reports. The firm owned 36,639 shares of the company’s stock after selling 5,899 shares during the period. Korea Investment CORP’s holdings in MercadoLibre were worth $85,623,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $206,000. Empowered Funds LLC boosted its position in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares during the period. Focus Partners Wealth grew its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at about $261,000. Finally, Huntington National Bank raised its holdings in shares of MercadoLibre by 87.0% during the 2nd quarter. Huntington National Bank now owns 101 shares of the company’s stock valued at $264,000 after buying an additional 47 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on MELI shares. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. UBS Group dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Wedbush decreased their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,785.33.

MercadoLibre Stock Up 0.4%

MELI stock opened at $1,787.86 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $2,024.42 and a 200-day simple moving average of $2,140.50. The company has a market capitalization of $90.64 billion, a P/E ratio of 45.38, a PEG ratio of 0.90 and a beta of 1.48. MercadoLibre, Inc. has a twelve month low of $1,654.24 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the prior year, the company earned $12.61 earnings per share. The company’s revenue was up 44.6% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by corporate insiders.

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.