Daiwa Securities Group Inc. Decreases Stock Position in MercadoLibre, Inc. $MELI

Daiwa Securities Group Inc. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,364 shares of the company’s stock after selling 2,524 shares during the quarter. Daiwa Securities Group Inc.’s holdings in MercadoLibre were worth $18,862,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the 4th quarter valued at $26,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the 2nd quarter valued at $29,000. Holos Integrated Wealth LLC bought a new position in MercadoLibre during the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd bought a new position in MercadoLibre during the 3rd quarter valued at $35,000. Finally, Strengthening Families & Communities LLC bought a new position in MercadoLibre during the 4th quarter valued at $38,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MELI shares. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday. Finally, Benchmark reduced their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 1.7%

Shares of NASDAQ:MELI opened at $1,607.80 on Friday. The stock has a market capitalization of $81.52 billion, a price-to-earnings ratio of 42.43, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company’s fifty day moving average is $1,720.81 and its two-hundred day moving average is $1,887.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period last year, the company posted $9.74 earnings per share. Equities analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre 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.