MercadoLibre, Inc. $MELI Shares Purchased by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.4% during the third quarter, HoldingsChannel.com reports. The firm owned 77,574 shares of the company’s stock after acquiring an additional 7,317 shares during the quarter. MercadoLibre makes up 8.9% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its biggest position. Hardman Johnston Global Advisors LLC’s holdings in MercadoLibre were worth $181,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MELI. Bison Wealth LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $206,000. Empowered Funds LLC grew its holdings in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth raised its position 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 acquiring an additional 178 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of MercadoLibre by 135.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $183,000 after purchasing an additional 54 shares during the period. Finally, Invst LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at $400,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.1%

NASDAQ MELI opened at $2,178.41 on Monday. The firm has a market cap of $110.45 billion, a P/E ratio of 53.16, a P/E/G ratio of 1.08 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The stock’s 50-day moving average is $2,062.64 and its 200-day moving average is $2,251.07. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued 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). The business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.83 earnings per share. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MELI. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, Wedbush reduced 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 note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

Insider Activity

In related news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock worth $2,308,788 over the last quarter. 0.25% of the stock is currently owned by company insiders.

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.