Polar Capital Holdings Plc Sells 42,651 Shares of MercadoLibre, Inc. $MELI

Polar Capital Holdings Plc reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 60.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,951 shares of the company's stock after selling 42,651 shares during the period. Polar Capital Holdings Plc owned about 0.06% of MercadoLibre worth $56,301,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MELI. Baillie Gifford & Co. lifted its stake in MercadoLibre by 4.9% in the fourth 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 raised its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after buying an additional 408,939 shares during the period. Capital World Investors raised its stake in shares of MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company's stock valued at $4,067,194,000 after buying an additional 22,659 shares during the period. Capital International Investors lifted its position in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after buying an additional 118,018 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of MercadoLibre by 9.8% during the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company's stock worth $1,432,565,000 after acquiring an additional 50,893 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,674.08 on Wednesday. The stock's 50-day simple moving average is $1,713.47 and its two-hundred day simple moving average is $1,867.47. The firm has a market capitalization of $84.88 billion, a P/E ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36. 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 twelve month low of $1,495.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results 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 net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm earned $9.74 earnings per share. The company's revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. Wedbush reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Finally, Itau BBA Securities reiterated an "outperform" rating on shares of MercadoLibre in a research report on Wednesday, February 25th. 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,255.33.

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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