Korea Investment CORP Trims Position in MercadoLibre, Inc. $MELI

Key Points

• Korea Investment CORP trimmed its stake in MercadoLibre by 13.9% in Q3, selling 5,899 shares and now holds 36,639 shares worth about $85.6 million (≈0.07% of the company).
• Company insiders sold 1,136 shares totaling about $2.31 million in the quarter (including two director sales), while institutional investors own roughly 87.62% of the stock.
• Despite an EPS miss, MercadoLibre posted 44.6% revenue growth and Wall Street maintains a "Moderate Buy" consensus with an average target near $2,785.

Korea Investment CORP lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,639 shares of the company's stock after selling 5,899 shares during the quarter. Korea Investment CORP owned approximately 0.07% of MercadoLibre worth $85,623,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Kemnay Advisory Services Inc. raised its holdings in MercadoLibre by 59.9% in the 3rd quarter. Kemnay Advisory Services Inc. now owns 4,238 shares of the company's stock valued at $9,904,000 after acquiring an additional 1,588 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of MercadoLibre during the third quarter worth $2,134,000. Blair William & Co. IL grew its position in shares of MercadoLibre by 1.6% in the third quarter. Blair William & Co. IL now owns 4,083 shares of the company's stock valued at $9,542,000 after purchasing an additional 66 shares during the period. First Trust Advisors LP increased its stake in MercadoLibre by 5.2% in the third quarter. First Trust Advisors LP now owns 18,956 shares of the company's stock valued at $44,299,000 after purchasing an additional 941 shares during the last quarter. Finally, Legacy Capital Group California Inc. increased its stake in MercadoLibre by 5.7% in the third quarter. Legacy Capital Group California Inc. now owns 167 shares of the company's stock valued at $390,000 after purchasing an additional 9 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the business's 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 completion of the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Trading Up 0.4%

Shares of MELI opened at $1,787.86 on Friday. MercadoLibre, Inc. has a twelve month low of $1,654.24 and a twelve month high of $2,645.22. The firm has a market capitalization of $90.64 billion, a P/E ratio of 45.38, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $2,024.42 and its 200 day simple moving average is $2,140.50.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Itau BBA Securities reiterated an "outperform" rating on shares of MercadoLibre in a research report on Wednesday, February 25th. UBS Group dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Wedbush cut their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. BTIG Research decreased their target price on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,785.33.

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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