Lazard Asset Management LLC Sells 3,462 Shares of MercadoLibre, Inc. $MELI

Key Points

• Lazard Asset Management cut its MercadoLibre stake by 18.6% in the first quarter, selling 3,462 shares and retaining 15,102 shares valued at approximately $26.1 million.
• Other major institutional investors increased their positions, and institutions collectively own 87.62% of MercadoLibre. Director Alejandro Nicolas Aguzin also purchased 600 shares for about $994,000.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $2,258.67. MercadoLibre recently reported revenue growth of 49% year over year, although quarterly earnings per share missed estimates.

Lazard Asset Management LLC lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 18.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 15,102 shares of the company's stock after selling 3,462 shares during the period. Lazard Asset Management LLC's holdings in MercadoLibre were worth $26,112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Baillie Gifford & Co. increased its position in shares of MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors boosted its stake in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital International Investors increased its holdings in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after buying an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 26.4% during the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock worth $1,216,807,000 after acquiring an additional 126,294 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director 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 SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,258.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,862.52 on Wednesday. The business's 50-day simple moving average is $1,715.97 and its 200 day simple moving average is $1,808.77. The stock has a market cap of $94.43 billion, a price-to-earnings ratio of 49.16, a P/E/G ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results 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 return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the firm earned $9.74 earnings per share. The company's quarterly revenue was up 49.0% on a year-over-year basis. As a group, research analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current year.

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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