Aviva PLC Has $130.94 Million Stock Position in MercadoLibre, Inc. $MELI

Aviva PLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 65,004 shares of the company’s stock after acquiring an additional 2,312 shares during the period. Aviva PLC’s holdings in MercadoLibre were worth $130,935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors boosted its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital World Investors boosted its stake in MercadoLibre by 1.3% in the 3rd quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after purchasing an additional 22,659 shares during the period. Capital International Investors boosted its stake in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the period. Finally, Schroder Investment Management Group boosted its stake in MercadoLibre by 9.8% in the 3rd quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after purchasing an additional 50,893 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Benchmark reduced their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Stock Up 1.4%

Shares of MELI stock opened at $1,610.00 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm’s 50-day moving average is $1,718.27 and its 200-day moving average is $1,875.83. The stock has a market cap of $81.63 billion, a price-to-earnings ratio of 42.49, a PEG ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.74 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

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.