Axiom Investors LLC DE Decreases Stake in MercadoLibre, Inc. $MELI

Axiom Investors LLC DE reduced its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 57.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,160 shares of the company's stock after selling 44,846 shares during the period. MercadoLibre accounts for about 0.6% of Axiom Investors LLC DE's investment portfolio, making the stock its 27th biggest position. Axiom Investors LLC DE owned about 0.07% of MercadoLibre worth $66,793,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. X Square Capital LLC increased its stake in MercadoLibre by 103.2% during the fourth quarter. X Square Capital LLC now owns 3,830 shares of the company's stock worth $7,714,000 after acquiring an additional 1,945 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in MercadoLibre by 14.3% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 800 shares of the company's stock worth $1,611,000 after acquiring an additional 100 shares during the last quarter. TIAA Trust National Association increased its stake in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after acquiring an additional 1,083 shares during the last quarter. Cerity Partners LLC increased its stake in MercadoLibre by 9.3% during the fourth quarter. Cerity Partners LLC now owns 4,799 shares of the company's stock worth $9,669,000 after acquiring an additional 409 shares during the last quarter. Finally, LPL Financial LLC increased its stake in MercadoLibre by 10.3% during the fourth quarter. LPL Financial LLC now owns 60,064 shares of the company's stock worth $120,984,000 after acquiring an additional 5,621 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Trading Up 1.8%

MELI opened at $1,641.16 on Wednesday. The stock has a market cap of $83.21 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 0.99 and a beta of 1.36. The stock's 50 day moving average price is $1,721.27 and its 200-day moving average price is $1,880.43. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year 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.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 EPS. The company's quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Itau BBA Securities reissued an "outperform" rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Scotiabank reduced their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a research note on Thursday, May 7th. Zacks Research cut MercadoLibre from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 22nd. Finally, Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,255.33.

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.

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