MercadoLibre, Inc. $MELI Stake Raised by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,889 shares of the company’s stock after purchasing an additional 714 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MercadoLibre were worth $72,186,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lavaca Capital LLC grew its position in MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares during the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of MercadoLibre by 304.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after acquiring an additional 192,071 shares during the last quarter. Durable Capital Partners LP grew its holdings in shares of MercadoLibre by 155.3% in the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after acquiring an additional 90,026 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,268.60 on Thursday. The company’s 50 day moving average price is $2,062.72 and its 200 day moving average price is $2,219.72. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company has a market capitalization of $115.02 billion, a PE ratio of 55.36, a PEG ratio of 1.14 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the previous year, the company earned $7.83 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MELI. Barclays boosted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Susquehanna cut their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Benchmark reduced their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Wedbush lowered their price objective on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. Finally, Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

Insider Buying and Selling

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre 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 sale, the director owned 257 shares of the company’s stock, 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. Over the last ninety days, insiders sold 1,136 shares of company stock worth $2,308,788. Corporate insiders own 0.25% of the company’s stock.

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.