Kemnay Advisory Services Inc. Grows Stock Holdings in MercadoLibre, Inc. $MELI

Kemnay Advisory Services Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,623 shares of the company’s stock after purchasing an additional 1,385 shares during the period. MercadoLibre makes up approximately 1.7% of Kemnay Advisory Services Inc.’s holdings, making the stock its 17th largest holding. Kemnay Advisory Services Inc.’s holdings in MercadoLibre were worth $11,326,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. raised its position in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors raised its position in MercadoLibre by 22.5% during 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 purchasing an additional 408,939 shares in the last quarter. Capital World Investors raised its position in MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after purchasing an additional 22,659 shares in the last quarter. Capital International Investors raised its position in MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in MercadoLibre by 9.8% during the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after purchasing an additional 50,893 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.7%

Shares of NASDAQ:MELI opened at $1,674.08 on Wednesday. The stock’s 50-day moving average price is $1,713.47 and its 200-day moving average price is $1,867.47. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $84.88 billion, a P/E ratio of 44.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the business posted $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MELI. Wedbush lowered their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Scotiabank lowered their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated 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 completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

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.