Capital Research Global Investors Buys 59,838 Shares of MercadoLibre, Inc. $MELI

Capital Research Global Investors raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% in the third quarter, HoldingsChannel.com reports. The firm owned 1,816,092 shares of the company’s stock after buying an additional 59,838 shares during the period. MercadoLibre comprises 0.8% of Capital Research Global Investors’ holdings, making the stock its 28th largest position. Capital Research Global Investors’ holdings in MercadoLibre were worth $4,244,604,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $206,000. Empowered Funds LLC increased its position in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares during the period. Focus Partners Wealth increased its stake in shares of MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after acquiring an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new position in MercadoLibre in the 2nd quarter valued at approximately $261,000. Finally, Modera Wealth Management LLC boosted its stake in shares of MercadoLibre by 9.0% in the 2nd quarter. Modera Wealth Management LLC now owns 145 shares of the company’s stock worth $380,000 after buying an additional 12 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,769.52 on Tuesday. The company’s 50 day moving average is $2,019.51 and its two-hundred day moving average is $2,135.12. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a market cap of $89.71 billion, a PE ratio of 44.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. MercadoLibre, Inc. has a 52-week low of $1,654.24 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period in the previous year, the business posted $12.61 EPS. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group reduced their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Wedbush cut their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Barclays decreased their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,762.00.

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.