MercadoLibre, Inc. $MELI Position Boosted by Waverton Investment Management Ltd

Waverton Investment Management Ltd grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.7% during the third quarter, Holdings Channel.com reports. The firm owned 23,640 shares of the company’s stock after buying an additional 2,291 shares during the period. MercadoLibre comprises about 0.7% of Waverton Investment Management Ltd’s portfolio, making the stock its 29th biggest holding. Waverton Investment Management Ltd’s holdings in MercadoLibre were worth $55,258,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Highview Capital Management LLC DE acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at about $559,000. Resona Asset Management Co. Ltd. raised its position in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares in the last quarter. Weitz Investment Management Inc. bought a new position in MercadoLibre during the third quarter valued at approximately $8,647,000. Achmea Investment Management B.V. lifted its stake in MercadoLibre by 10.9% in the second quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock valued at $13,921,000 after acquiring an additional 525 shares during the last quarter. Finally, Barlow Wealth Partners Inc. grew its position in MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after acquiring an additional 6,429 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MELI shares. UBS Group cut their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Wedbush decreased their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,795.33.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,757.58 on Monday. The company has a market cap of $89.11 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 0.87 and a beta of 1.48. The business has a 50 day moving average price of $2,047.63 and a 200 day moving average price of $2,159.73. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a twelve month low of $1,654.24 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The business’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.61 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.