MMA Asset Management LLC Boosts Stake in MercadoLibre, Inc. $MELI

MMA Asset Management LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 102.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 606 shares of the company’s stock after buying an additional 306 shares during the quarter. MMA Asset Management LLC’s holdings in MercadoLibre were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lavaca Capital LLC lifted its holdings in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Norges Bank acquired a new position in MercadoLibre in the 2nd quarter worth approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in MercadoLibre by 304.7% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after buying an additional 192,071 shares during the last quarter. Flossbach Von Storch SE lifted its stake in MercadoLibre by 1,669.4% during the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after acquiring an additional 171,449 shares during the period. Finally, Durable Capital Partners LP lifted its stake in MercadoLibre by 155.3% during the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after acquiring an additional 90,026 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BTIG Research reissued a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a report on Wednesday. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. UBS Group reduced their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Benchmark dropped their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,876.88.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,970.15 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The stock’s 50-day moving average price is $2,074.84 and its 200-day moving average price is $2,206.74. The stock has a market capitalization of $99.89 billion, a PE ratio of 48.08, a price-to-earnings-growth ratio of 1.01 and a beta of 1.44.

Insider Buying and Selling at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre 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 legal filing with the SEC, which is available at this link. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

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.