Polen Capital Management LLC Has $96.52 Million Stake in MercadoLibre, Inc. $MELI

Polen Capital Management LLC trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,920 shares of the company’s stock after selling 1,595 shares during the period. MercadoLibre makes up about 0.4% of Polen Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Polen Capital Management LLC owned approximately 0.09% of MercadoLibre worth $96,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in shares of MercadoLibre by 4.9% during the fourth 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 in the last quarter. Capital Research Global Investors increased its position 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 acquiring an additional 408,939 shares during the last quarter. Capital World Investors raised its stake in shares of MercadoLibre by 1.3% during 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 in the last quarter. Capital International Investors increased its stake 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 worth $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after buying an additional 50,893 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. Benchmark decreased their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, UBS Group cut their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,610.00 on Friday. The firm has a market cap of $81.62 billion, a P/E ratio of 42.49, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. The company’s 50 day moving average is $1,718.27 and its 200-day moving average is $1,875.83. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. 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 (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share 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 during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the firm posted $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. Sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insiders Place Their Bets

In other MercadoLibre 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 price 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 approximately $8,867,505.15. The trade was 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. 0.26% of the stock is owned by corporate insiders.

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.