Clearbridge Investments LLC Reduces Position in MercadoLibre, Inc. $MELI

Clearbridge Investments LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,831 shares of the company’s stock after selling 26,350 shares during the period. Clearbridge Investments LLC owned 0.24% of MercadoLibre worth $245,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $29,000. Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $30,000. Holos Integrated Wealth LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $32,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’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, for a total transaction of $993,558.00. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MELI. JPMorgan Chase & Co. dropped their price objective on shares of 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. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Wedbush dropped their target price on shares of 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. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Down 1.7%

Shares of NASDAQ:MELI opened at $1,607.80 on Friday. The stock has a market cap of $81.52 billion, a P/E ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36. The firm has a fifty day moving average price of $1,720.81 and a 200 day moving average price of $1,887.84. 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 $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.74 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre 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.