MercadoLibre, Inc. $MELI Stake Raised by Candriam S.C.A.

Key Points

• Candriam S.C.A. significantly increased its MercadoLibre stake by 479.6% in the first quarter, ending with 19,412 shares valued at about $33.6 million.
• MercadoLibre shares rose on Friday to $1,852.22, and the company now has a market cap of about $93.9 billion.
• The company’s latest earnings missed EPS expectations at $8.23 versus $8.75 expected, though revenue came in above estimates at $8.85 billion and grew 49% year over year.

Candriam S.C.A. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 479.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,412 shares of the company's stock after buying an additional 16,063 shares during the period. Candriam S.C.A.'s holdings in MercadoLibre were worth $33,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Interchange Capital Partners LLC boosted its holdings in shares of MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after buying an additional 5 shares during the period. Cornerstone Select Advisors LLC lifted 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 acquiring an additional 5 shares in the last quarter. Mitchell Capital Management Co. boosted its stake in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after purchasing an additional 5 shares during the period. Strategic Advisors LLC boosted its stake in MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is owned by institutional investors.

Insider Activity at MercadoLibre

In related 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 acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

MercadoLibre stock traded up $44.39 on Friday, reaching $1,852.22. The company's stock had a trading volume of 406,269 shares, compared to its average volume of 405,449. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $93.91 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The business's fifty day moving average price is $1,675.89 and its 200 day moving average price is $1,827.82.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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 net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business earned $9.74 EPS. The business's revenue for the quarter was up 49.0% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Citigroup lowered MercadoLibre from a "buy" rating to a "neutral" rating and dropped their price target for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Benchmark lowered their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Finally, Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus target price of $2,255.33.

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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