Russell Investments Group Ltd. Has $177.85 Million Position in MercadoLibre, Inc. $MELI

Russell Investments Group Ltd. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,261 shares of the company’s stock after purchasing an additional 4,840 shares during the quarter. Russell Investments Group Ltd.’s holdings in MercadoLibre were worth $177,846,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MELI. Thompson Siegel & Walmsley LLC raised its stake in shares of MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. Weitz Investment Management Inc. acquired a new position in shares of MercadoLibre during the third quarter worth about $8,647,000. TIAA Trust National Association boosted its position in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after buying an additional 1,083 shares during the period. Brown Advisory Inc. grew its holdings in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares in the last quarter. Finally, Deepwater Asset Management LLC raised its position in MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after buying an additional 2,164 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Cantor Fitzgerald decreased their price target 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. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Barclays cut their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

MELI opened at $1,674.08 on Wednesday. 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, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The business has a 50 day moving average of $1,713.47 and a 200-day moving average of $1,867.47. The stock has a market cap of $84.88 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 1.01 and a beta of 1.36.

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

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company 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.