Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Mirae Asset trimmed its stake in MercadoLibre by 14.2% in Q4, selling 4,390 shares and now owning 26,499 shares valued at about $53.38 million (roughly 0.05% of the company).
• Several brokerages have recently lowered price targets (e.g., Morgan Stanley, Wedbush, Cantor Fitzgerald, Barclays), but consensus remains a "Moderate Buy" with an average target of $2,695.33.
• Shares are trading down ~2.7% at $1,822.13 with a market cap of $92.38 billion and a P/E of 46.25; the company reported last-quarter EPS of $11.03 on $8.76 billion in revenue.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,499 shares of the company's stock after selling 4,390 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.05% of MercadoLibre worth $53,376,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth $29,000. Holos Integrated Wealth LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $32,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre in the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new position in MercadoLibre in the third quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company's stock valued at $37,000 after buying an additional 8 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Itau BBA Securities reaffirmed an "outperform" rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Morgan Stanley cut their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an "overweight" rating on the stock in a report on Monday, March 9th. Wedbush reduced their price target 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. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Finally, Barclays lowered their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,695.33.

MercadoLibre Trading Down 2.7%

Shares of MercadoLibre stock opened at $1,822.13 on Friday. The firm's 50 day simple moving average is $1,795.65 and its two-hundred day simple moving average is $2,002.57. The firm has a market capitalization of $92.38 billion, a price-to-earnings ratio of 46.25, a PEG ratio of 0.98 and a beta of 1.49. MercadoLibre, Inc. has a 12-month low of $1,593.21 and a 12-month high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. The firm had revenue of $8.76 billion for the quarter. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%. Analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.