Swiss Life Asset Management Ltd Decreases Position in MercadoLibre, Inc. $MELI

Swiss Life Asset Management Ltd decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,858 shares of the company’s stock after selling 1,133 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in MercadoLibre were worth $18,364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Strategic Advocates LLC bought a new stake in shares of MercadoLibre in the 3rd quarter valued at about $63,000. CIBC Private Wealth Group LLC boosted its holdings in MercadoLibre by 1.0% during the third quarter. CIBC Private Wealth Group LLC now owns 68,243 shares of the company’s stock worth $159,481,000 after buying an additional 655 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in MercadoLibre during the third quarter valued at $8,161,000. Sunbelt Securities Inc. increased its stake in shares of MercadoLibre by 21.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 263 shares of the company’s stock valued at $615,000 after purchasing an additional 47 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of MercadoLibre by 6.1% during the 3rd quarter. Captrust Financial Advisors now owns 2,247 shares of the company’s stock worth $5,252,000 after buying an additional 130 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.4%

MELI stock opened at $1,666.93 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The company has a 50-day moving average of $1,959.01 and a two-hundred day moving average of $2,099.04. MercadoLibre, Inc. has a 52-week low of $1,631.18 and a 52-week high of $2,645.22.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on MELI. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Wedbush dropped their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. BTIG Research reduced their price objective on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Barclays decreased their price objective on shares of 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, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,725.33.

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.