Nicholas Investment Partners LP Lowers Stake in MercadoLibre, Inc. $MELI

Key Points

• Nicholas Investment Partners LP cut its MercadoLibre stake by 64.5% in the fourth quarter, selling 854 shares and leaving it with 470 shares valued at about $947,000.
• MercadoLibre’s latest quarterly results showed mixed performance: revenue rose 49% year over year to $8.85 billion, but earnings per share of $8.23 missed analyst expectations of $8.75.
• Analysts remain cautious overall, with a Moderate Buy consensus and an average price target of $2,255.33, while several firms recently trimmed their targets or downgraded the stock.

Nicholas Investment Partners LP reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 64.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 470 shares of the company's stock after selling 854 shares during the period. Nicholas Investment Partners LP's holdings in MercadoLibre were worth $947,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MELI. Hardy Reed LLC lifted its stake in shares of MercadoLibre by 4.0% in the third 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 raised its position in MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company's stock worth $44,000 after acquiring an additional 5 shares during the last quarter. Interchange Capital Partners LLC raised its position in MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after acquiring an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC raised its position in MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after acquiring an additional 5 shares during the last quarter. Finally, Mitchell Capital Management Co. raised its position in MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after acquiring an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,589.60 on Friday. The firm has a 50 day simple moving average of $1,715.68 and a 200-day simple moving average of $1,873.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market cap of $80.59 billion, a PE ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group cut their target price on shares of 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. JPMorgan Chase & Co. cut their target price on shares of 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. Jefferies Financial Group upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating and cut their target price for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Finally, Zacks Research cut shares of MercadoLibre from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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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