Calamos Advisors LLC Reduces Position in MercadoLibre, Inc. $MELI

Calamos Advisors LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the third quarter, HoldingsChannel.com reports. The fund owned 7,098 shares of the company’s stock after selling 377 shares during the quarter. Calamos Advisors LLC’s holdings in MercadoLibre were worth $16,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optimize Financial Inc increased its position in MercadoLibre by 1.7% during the 1st quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after purchasing an additional 4 shares in the last quarter. Range Financial Group LLC boosted its stake in shares of MercadoLibre by 2.7% during the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in shares of MercadoLibre by 26.3% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after buying an additional 5 shares during the last quarter. Quadcap Wealth Management LLC lifted its stake in shares of MercadoLibre by 4.2% during the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after buying an additional 5 shares during the period. Finally, PFW Advisors LLC lifted its stake in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after buying an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,020.88 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1-year low of $1,698.53 and a 1-year high of $2,645.22. The firm has a market capitalization of $102.46 billion, a P/E ratio of 49.31, a P/E/G ratio of 1.50 and a beta of 1.42. The business’s 50-day simple moving average is $2,084.72 and its 200-day simple moving average is $2,270.20.

MercadoLibre (NASDAQ:MELI) last posted 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 business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period last year, the company posted $7.83 EPS. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Insider Transactions at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock valued at $2,308,788 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. UBS Group cut their price target on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a report on Monday, November 24th. Morgan Stanley upped their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Wedbush decreased their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research note on Friday, December 19th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

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.