KBC Group NV Trims Stake in MercadoLibre, Inc. $MELI

Key Points

• KBC Group NV cut its MercadoLibre stake by 41.3% in the first quarter, selling 31,847 shares and leaving it with 45,179 shares valued at about $78.1 million.
• MercadoLibre reported Q1 revenue of $8.85 billion, beating estimates and rising 49% year over year, but earnings per share of $8.23 missed the consensus estimate of $8.75.
• Analysts remain generally constructive, with a Moderate Buy consensus and an average price target of $2,258.67, even after several firms lowered their targets in recent reports.

KBC Group NV lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 41.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,179 shares of the company's stock after selling 31,847 shares during the quarter. KBC Group NV owned about 0.09% of MercadoLibre worth $78,116,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the 4th quarter worth about $28,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre during the fourth quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,813.91 on Monday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a market cap of $91.97 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The stock's fifty day moving average price is $1,681.90 and its 200 day moving average price is $1,821.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $8.29 billion. During the same quarter last year, the company earned $9.74 EPS. The business's revenue was up 49.0% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MELI shares. Scotiabank lowered their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,258.67.

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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