MercadoLibre, Inc. $MELI Shares Sold by Daiwa Securities Group Inc.

Key Points

• Daiwa Securities Group reduced its MercadoLibre stake by 21.2% in the fourth quarter, selling 2,524 shares and leaving it with 9,364 shares valued at about $18.9 million.
• Several other major institutional investors remain heavily invested in MELI, and hedge funds own 87.62% of the company’s stock overall.
• Analysts remain broadly positive on MercadoLibre, with a Moderate Buy consensus and an average price target of $2,255.33, though recent targets were mixed and Citigroup downgraded the stock to neutral.

Daiwa Securities Group Inc. lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,364 shares of the company's stock after selling 2,524 shares during the quarter. Daiwa Securities Group Inc.'s holdings in MercadoLibre were worth $18,862,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of MercadoLibre by 4.9% in the 4th 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 last quarter. Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 3.4% in the 3rd quarter. Capital Research Global Investors now owns 1,816,092 shares of the company's stock valued at $4,244,604,000 after purchasing an additional 59,838 shares during the last quarter. Capital World Investors boosted its holdings in shares of MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company's stock valued at $4,067,194,000 after purchasing an additional 22,659 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of MercadoLibre by 9.8% in the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company's stock valued at $1,432,565,000 after purchasing an additional 50,893 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company's stock valued at $1,153,911,000 after purchasing an additional 109,228 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Itau BBA Securities reiterated an "outperform" rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, Citigroup downgraded shares of MercadoLibre from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,255.33.

MercadoLibre Price Performance

MELI opened at $1,607.80 on Friday. 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, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a 50 day moving average of $1,720.81 and a two-hundred day moving average of $1,887.84. The company has a market cap of $81.52 billion, a P/E ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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 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 analysts' expectations of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 earnings per share. MercadoLibre's quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was acquired 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 owned 5,355 shares of the company's stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

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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