The Manufacturers Life Insurance Company Sells 846 Shares of MercadoLibre, Inc. $MELI

The Manufacturers Life Insurance Company trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,170 shares of the company’s stock after selling 846 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $30,840,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MELI. BlackRock Inc. acquired a new stake in shares of MercadoLibre during the second quarter worth $2,246,015,000. Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Norges Bank acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $597,045,000. Royal Bank of Canada increased its position in MercadoLibre by 114.2% during the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after acquiring an additional 237,008 shares during the period. Finally, Marshall Wace LLP increased its position in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after acquiring an additional 202,322 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.0%

Shares of NASDAQ MELI opened at $1,930.75 on Friday. The stock has a market capitalization of $97.88 billion, a P/E ratio of 52.51, a PEG ratio of 1.34 and a beta of 1.34. The stock’s fifty day moving average is $1,817.82 and its 200 day moving average is $1,771.00. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.31 earnings per share. Sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MELI shares. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Scotiabank lowered their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group dropped their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

About MercadoLibre

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.