USS Investment Management Ltd Acquires 18,188 Shares of MercadoLibre, Inc. $MELI

USS Investment Management Ltd increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 116.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,838 shares of the company’s stock after acquiring an additional 18,188 shares during the quarter. USS Investment Management Ltd’s holdings in MercadoLibre were worth $58,502,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in MercadoLibre in the 3rd quarter valued at about $35,000. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,697.39 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. 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’s 50-day simple moving average is $1,681.30 and its 200 day simple moving average is $1,836.87. The firm has a market cap of $86.06 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 1.04 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm earned $9.74 EPS. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a report on Friday, May 8th. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.