Bessemer Group Inc. Decreases Stake in MercadoLibre, Inc. $MELI

Bessemer Group Inc. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 26.6% during the third quarter, HoldingsChannel.com reports. The firm owned 104,647 shares of the company’s stock after selling 38,021 shares during the period. Bessemer Group Inc.’s holdings in MercadoLibre were worth $244,554,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares in the last quarter. Lavaca Capital LLC increased its stake in MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares in the last quarter. Schroder Investment Management Group raised its holdings in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after purchasing an additional 74,201 shares during the last quarter. WCM Investment Management LLC boosted its position in MercadoLibre by 0.4% during the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in MercadoLibre by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after purchasing an additional 9,474 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,052.78 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The company’s 50 day simple moving average is $2,077.05 and its 200 day simple moving average is $2,210.81. The company has a market capitalization of $104.08 billion, a price-to-earnings ratio of 50.09, a PEG ratio of 1.04 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

Insider Transactions at MercadoLibre

In related news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction dated 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 SEC filing for this sale provides additional information. Insiders have sold 1,136 shares of company stock worth $2,308,788 over the last quarter. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MELI shares. Citigroup cut their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. BTIG Research restated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Wednesday. 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 report on Monday, November 3rd. Benchmark dropped their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,876.88.

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.