Sigma Planning Corp Cuts Position in MercadoLibre, Inc. $MELI

Sigma Planning Corp lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 65.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189 shares of the company’s stock after selling 353 shares during the period. Sigma Planning Corp’s holdings in MercadoLibre were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its position in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors increased its stake in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during 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 during the period. Price T Rowe Associates Inc. MD raised its position in MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 26.4% in the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after purchasing an additional 126,294 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price 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 in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. Benchmark decreased their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup raised their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Stock Down 0.5%

Shares of MELI stock opened at $1,822.65 on Wednesday. The stock’s fifty day moving average price is $1,692.28 and its 200 day moving average price is $1,818.66. The company has a market cap of $92.41 billion, a price-to-earnings ratio of 48.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released 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 for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the firm earned $9.74 EPS. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

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.