RWC Asset Management LLP Cuts Stake in MercadoLibre, Inc. $MELI

RWC Asset Management LLP cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,463 shares of the company’s stock after selling 1,365 shares during the period. MercadoLibre accounts for 1.2% of RWC Asset Management LLP’s holdings, making the stock its 22nd biggest holding. RWC Asset Management LLP’s holdings in MercadoLibre were worth $24,451,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth $206,000. Empowered Funds LLC boosted its holdings in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of MercadoLibre by 135.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $183,000 after purchasing an additional 54 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of MercadoLibre by 101.3% in the first quarter. Voya Investment Management LLC now owns 1,530 shares of the company’s stock worth $2,985,000 after buying an additional 770 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Wedbush cut their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. BTIG Research reissued a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Thursday, December 4th. Finally, Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,842.94.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre 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. The SEC filing for this sale provides additional information. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 in the last quarter. 0.25% of the stock is owned by company insiders.

MercadoLibre Price Performance

MELI stock opened at $2,149.90 on Tuesday. The stock has a market cap of $109.00 billion, a PE ratio of 52.46, a P/E/G ratio of 1.08 and a beta of 1.42. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The company has a 50-day moving average price of $2,059.31 and a 200 day moving average price of $2,248.18. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the business earned $7.83 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.