Infusive Asset Management Inc. Grows Position in MercadoLibre, Inc. $MELI

Infusive Asset Management Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,844 shares of the company’s stock after purchasing an additional 324 shares during the period. MercadoLibre makes up about 2.4% of Infusive Asset Management Inc.’s portfolio, making the stock its 16th biggest position. Infusive Asset Management Inc.’s holdings in MercadoLibre were worth $5,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of MELI. Capital Research Global Investors grew its position in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. grew its position in MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the last quarter. Norges Bank purchased a new stake in MercadoLibre during the 4th quarter worth approximately $597,045,000. Marshall Wace LLP grew its position in MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after purchasing an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in MercadoLibre by 4.9% during the 4th 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 last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price 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. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Down 1.3%

MELI stock opened at $1,589.60 on Friday. The firm’s fifty day simple moving average is $1,715.68 and its 200-day simple moving average is $1,873.83. The company has a market capitalization of $80.59 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. 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 12 month low of $1,495.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue was up 49.0% on a year-over-year basis. During the same period last year, the company earned $9.74 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

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.