Cidel Asset Management Inc. Trims Position in MercadoLibre, Inc. $MELI

Cidel Asset Management Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 80.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,799 shares of the company’s stock after selling 7,520 shares during the period. Cidel Asset Management Inc.’s holdings in MercadoLibre were worth $3,111,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. increased its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares in the last quarter. Capital Research Global Investors raised its holdings 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 acquiring an additional 408,939 shares during the period. Capital World Investors lifted its position in shares of MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Capital International Investors lifted its position in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after acquiring an additional 137,100 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report 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 report on Wednesday, May 13th. Finally, Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. One investment 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. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Trading Down 0.4%

Shares of MercadoLibre stock opened at $1,583.66 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve 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. The business has a 50-day moving average price of $1,699.06 and a 200-day moving average price of $1,850.99. The firm has a market cap of $80.29 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 0.98 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS 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 firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the firm posted $9.74 earnings per share. MercadoLibre’s quarterly revenue was up 49.0% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is 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.