MercadoLibre, Inc. $MELI Shares Sold by Munro Partners

Key Points

• Munro Partners cut its MercadoLibre stake by 41.7% in the fourth quarter, selling 1,680 shares and leaving it with 2,345 shares valued at about $4.72 million.
• MercadoLibre shares rose 3.6% and opened at $1,646.36, while the stock remains well below its 52-week high of $2,645.22.
• The company beat revenue expectations but missed EPS in its latest quarterly report, posting $8.85 billion in revenue, up 49% year over year, versus EPS of $8.23 compared with the $8.75 estimate.

Munro Partners reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 41.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,345 shares of the company's stock after selling 1,680 shares during the period. Munro Partners' holdings in MercadoLibre were worth $4,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC grew its position in shares of MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after acquiring an additional 1,430 shares during the period. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at about $8,647,000. TIAA Trust National Association grew its position in shares of MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC grew its position in shares of MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock valued at $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas grew its position in shares of MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company's stock valued at $80,941,000 after acquiring an additional 6,200 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 3.6%

MELI stock opened at $1,646.36 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The stock has a market cap of $83.47 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 0.98 and a beta of 1.36. The business's 50-day moving average is $1,714.30 and its 200 day moving average is $1,870.00.

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 return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The company's quarterly revenue was up 49.0% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. Zacks Research cut MercadoLibre from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 22nd. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Finally, BTIG Research restated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,255.33.

MercadoLibre Company 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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