PKO Investment Management Joint Stock Co Purchases 1,100 Shares of MercadoLibre, Inc. $MELI

PKO Investment Management Joint Stock Co boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 78.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after purchasing an additional 1,100 shares during the period. PKO Investment Management Joint Stock Co’s holdings in MercadoLibre were worth $5,842,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Schmidt P J Investment Management Inc. bought a new stake in shares of MercadoLibre during the third quarter worth about $486,000. Nordea Investment Management AB boosted its position in MercadoLibre by 17.2% during the 3rd quarter. Nordea Investment Management AB now owns 104,821 shares of the company’s stock worth $247,494,000 after buying an additional 15,367 shares during the period. Hardman Johnston Global Advisors LLC grew its holdings in MercadoLibre by 10.4% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 77,574 shares of the company’s stock worth $181,286,000 after acquiring an additional 7,317 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in MercadoLibre by 2.2% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,567 shares of the company’s stock worth $3,662,000 after acquiring an additional 33 shares during the last quarter. Finally, First Horizon Corp acquired a new position in MercadoLibre in the 3rd quarter valued at approximately $208,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In related news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The SEC filing for this sale provides additional information. Insiders have sold 1,136 shares of company stock worth $2,308,788 in the last quarter. Company insiders own 0.25% of the company’s stock.

MercadoLibre Stock Down 1.3%

Shares of MercadoLibre stock opened at $2,149.90 on Tuesday. The stock’s 50-day moving average is $2,059.31 and its 200 day moving average is $2,248.18. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22. The firm has a market cap of $109.00 billion, a price-to-earnings ratio of 52.46, a PEG ratio of 1.08 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period last year, the firm posted $7.83 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MELI. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Susquehanna reduced their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, BTIG Research restated a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,842.94.

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.