NEOS Investment Management LLC Grows Stake in MercadoLibre, Inc. $MELI

NEOS Investment Management LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 87.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,713 shares of the company’s stock after purchasing an additional 6,863 shares during the quarter. NEOS Investment Management LLC’s holdings in MercadoLibre were worth $34,383,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Highview Capital Management LLC DE acquired a new position in MercadoLibre during the 2nd quarter valued at about $559,000. Resona Asset Management Co. Ltd. increased its holdings in shares of MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares in the last quarter. Jennison Associates LLC raised its position in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Achmea Investment Management B.V. grew its position in MercadoLibre by 10.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after purchasing an additional 525 shares during the last quarter. Finally, Barlow Wealth Partners Inc. lifted its stake in shares of MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after buying an additional 6,429 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Benchmark reduced their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Wednesday, February 4th. Wedbush reduced their price target on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,886.25.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by company insiders.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,988.26 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a market cap of $100.80 billion, a PE ratio of 48.52, a PEG ratio of 0.99 and a beta of 1.44. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22. The firm has a fifty day moving average of $2,064.20 and a 200 day moving average of $2,188.78.

About MercadoLibre

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.