Federated Hermes Inc. Sells 5,271 Shares of MercadoLibre, Inc. $MELI

Federated Hermes Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 40,278 shares of the company’s stock after selling 5,271 shares during the period. Federated Hermes Inc.’s holdings in MercadoLibre were worth $94,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre in the 3rd quarter valued at about $35,000. Cullen Frost Bankers Inc. grew its holdings in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the period. Curio Wealth LLC increased its position in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new stake in MercadoLibre in the second quarter valued at approximately $39,000. 87.62% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s 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 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 Trading Down 1.2%

MELI stock opened at $2,268.60 on Thursday. 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 price-to-earnings-growth ratio of 1.14 and a beta of 1.42. The company’s 50-day simple moving average is $2,062.72 and its 200 day simple moving average is $2,219.72. 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 issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share 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 business had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same quarter last year, the firm earned $7.83 EPS. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. BTIG Research reissued a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. Barclays lifted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Benchmark lowered their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

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.