Dai ichi Life Insurance Company Ltd Trims Holdings in MercadoLibre, Inc. $MELI

Key Points

• Dai ichi Life Insurance Company Ltd cut its MercadoLibre stake by 50.3% in the first quarter, selling 1,982 shares and leaving it with 1,958 shares worth about $3.39 million.
• Insider activity was positive: Director Alejandro Nicolas Aguzin bought 600 shares at $1,655.93 each, increasing his direct ownership by 12.62%.
• Analyst sentiment remains moderately bullish, with an average target price of $2,258.67; however, MercadoLibre recently reported EPS below estimates even as quarterly revenue rose 49% year over year.

Dai ichi Life Insurance Company Ltd lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 50.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,958 shares of the company's stock after selling 1,982 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in MercadoLibre were worth $3,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth about $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the fourth quarter worth about $28,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the fourth quarter worth about $30,000. Institutional investors own 87.62% of the company's stock.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. Jefferies Financial Group upgraded MercadoLibre from a "hold" rating to a "buy" rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research report on Friday, May 8th. UBS Group reduced their price objective 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. Finally, The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,258.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,801.44 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm's 50-day moving average price is $1,705.94 and its two-hundred day moving average price is $1,815.81. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a market capitalization of $91.33 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its 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 company had revenue of $8.85 billion for the quarter, compared to the consensus estimate 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 period last year, the company posted $9.74 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current year.

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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