Dixon Mitchell Investment Counsel Inc. Takes Position in MercadoLibre, Inc. $MELI

Key Points

• Dixon Mitchell Investment Counsel Inc. opened a new Q3 stake in MercadoLibre, buying 740 shares valued at about $1.73 million, while other institutions also added to positions and institutional ownership stands at 87.62%.
• Two company directors sold stock in December (Emiliano Calemzuk: 45 shares for ~$91,232; Henrique Vasoncelos Dubugras: 845 shares for ~$1.714M), leaving insiders with just 0.25% ownership.
• MercadoLibre reported an EPS miss ($11.03 vs. $11.66) but beat revenue expectations ($8.76B vs. $8.45B) with 44.6% revenue growth; the company has a market cap of ~$89.7B, a P/E of 44.9, and a MarketBeat consensus rating of "Moderate Buy" with a $2,762 target amid several analyst price cuts.

Dixon Mitchell Investment Counsel Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 740 shares of the company's stock, valued at approximately $1,729,000.

Several other institutional investors have also bought and sold shares of the stock. Highview Capital Management LLC DE acquired a new position in MercadoLibre in the second quarter valued at about $559,000. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the third quarter worth approximately $8,647,000. Barlow Wealth Partners Inc. raised its stake in shares of MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company's stock valued at $26,886,000 after acquiring an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of MercadoLibre by 14.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company's stock worth $202,610,000 after acquiring an additional 10,849 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company's stock worth $112,414,000 after acquiring an additional 7,570 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Insiders Place Their Bets

In other MercadoLibre 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 transaction of $91,231.65. Following the transaction, the director directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business's stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company's stock.

MercadoLibre Stock Performance

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

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley reduced their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an "overweight" rating on the stock in a research note on Monday. Weiss Ratings lowered shares of MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 8th. Barclays dropped 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. BTIG Research lowered their price target on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Finally, Wedbush reduced their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock 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 issued a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,762.00.

MercadoLibre 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.

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