Capital Research Global Investors Acquires 59,838 Shares of MercadoLibre, Inc. $MELI

Capital Research Global Investors boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,816,092 shares of the company’s stock after acquiring an additional 59,838 shares during the quarter. MercadoLibre accounts for 0.8% of Capital Research Global Investors’ holdings, making the stock its 28th largest holding. Capital Research Global Investors owned 3.58% of MercadoLibre worth $4,244,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lavaca Capital LLC grew its holdings in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after buying an additional 1,065,530 shares during the last quarter. Norges Bank bought a new position in shares of MercadoLibre during the second quarter valued at approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of MercadoLibre by 304.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after buying an additional 192,071 shares during the period. Flossbach Von Storch SE increased its position in shares of MercadoLibre by 1,669.4% during the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after acquiring an additional 171,449 shares in the last quarter. Finally, Durable Capital Partners LP boosted its holdings in shares of MercadoLibre by 155.3% in the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after buying an additional 90,026 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday. Finally, Barclays lowered their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,762.00.

MercadoLibre Price Performance

Shares of MELI opened at $1,769.52 on Tuesday. The company has a market cap of $89.71 billion, a P/E ratio of 44.91, a PEG ratio of 0.90 and a beta of 1.48. The stock has a fifty day moving average price of $2,019.51 and a 200 day moving average price of $2,135.12. MercadoLibre, Inc. has a 12 month low of $1,654.24 and a 12 month high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm 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 business posted $12.61 EPS. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. On average, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

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.