Legal & General Group Plc Has $560.15 Million Stock Position in MercadoLibre, Inc. $MELI

Legal & General Group Plc lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 239,692 shares of the company’s stock after acquiring an additional 12,465 shares during the quarter. Legal & General Group Plc’s holdings in MercadoLibre were worth $560,146,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the 2nd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the 3rd quarter worth approximately $35,000. Cullen Frost Bankers Inc. lifted its holdings in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the period. Rothschild Investment LLC boosted its position in MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after buying an additional 5 shares in the last quarter. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of MercadoLibre in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. Wedbush cut their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Barclays decreased their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Morgan Stanley dropped their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,762.00.

MercadoLibre Trading Down 1.6%

Shares of NASDAQ:MELI opened at $1,742.09 on Wednesday. The firm has a market cap of $88.32 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 0.89 and a beta of 1.48. The company’s fifty day simple moving average is $2,013.94 and its 200 day simple moving average is $2,130.27. MercadoLibre, Inc. has a 12 month low of $1,654.24 and a 12 month high of $2,645.22. 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 (NASDAQ:MELI) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.61 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.