MercadoLibre, Inc. $MELI Holdings Lifted by Capital Research Global Investors

Key Points

• Capital Research Global Investors increased its MercadoLibre stake by 22.5% in the fourth quarter, buying 408,939 additional shares and bringing its holdings to 2,225,031 shares worth about $4.48 billion.
• Several other institutional investors also modestly boosted their positions, and hedge funds/institutions now own 87.62% of MercadoLibre’s stock.
• MercadoLibre reported quarterly earnings of $8.23 EPS, missing estimates, while revenue rose 49% year over year to $8.85 billion; meanwhile, analysts mostly remain positive with a consensus rating of Moderate Buy and an average target price of $2,255.33.

Capital Research Global Investors lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 22.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,225,031 shares of the company's stock after purchasing an additional 408,939 shares during the quarter. MercadoLibre accounts for about 0.8% of Capital Research Global Investors' investment portfolio, making the stock its 24th largest holding. Capital Research Global Investors owned 4.39% of MercadoLibre worth $4,481,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Hardy Reed LLC boosted its position in shares of MercadoLibre by 4.0% in the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company's stock valued at $306,000 after purchasing an additional 5 shares during the period. Rothschild Investment LLC boosted its position in shares of MercadoLibre by 35.7% in the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company's stock valued at $44,000 after purchasing an additional 5 shares during the period. Interchange Capital Partners LLC boosted its position in shares of MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC boosted its position in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock valued at $355,000 after purchasing an additional 5 shares during the period. Finally, Mitchell Capital Management Co. boosted its position in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after purchasing an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction 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 transaction, the director owned 5,355 shares of the company's stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target 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. UBS Group decreased their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. Finally, Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,255.33.

MercadoLibre Trading Down 1.7%

Shares of NASDAQ MELI opened at $1,607.80 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The firm has a market capitalization of $81.52 billion, a PE ratio of 42.43, a PEG ratio of 0.99 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $1,720.81 and a two-hundred day moving average price of $1,887.84.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS 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 analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $9.74 earnings per share. The company's revenue was up 49.0% compared to the same quarter last year. As a group, analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal 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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