MercadoLibre, Inc. $MELI Stock Position Trimmed by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,499 shares of the company’s stock after selling 10,258 shares during the period. MercadoLibre makes up about 2.1% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 11th largest holding. Amova Asset Management Americas Inc.’s holdings in MercadoLibre were worth $213,828,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Highview Capital Management LLC DE acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at $559,000. Resona Asset Management Co. Ltd. grew its position in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after purchasing an additional 585 shares in the last quarter. Weitz Investment Management Inc. purchased a new position in shares of MercadoLibre during the 3rd quarter valued at $8,647,000. Achmea Investment Management B.V. grew its stake in MercadoLibre by 10.9% in the second quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock valued at $13,921,000 after purchasing an additional 525 shares in the last quarter. Finally, Barlow Wealth Partners Inc. increased its position in MercadoLibre by 126.7% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’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 owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the company’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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,136 shares of company stock valued at $2,308,788 in the last quarter. Corporate insiders own 0.25% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,769.03 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. The company has a market cap of $89.69 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.48. The firm has a fifty day moving average price of $2,033.11 and a two-hundred day moving average price of $2,148.46. MercadoLibre, Inc. has a fifty-two week low of $1,654.24 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the firm posted $12.61 EPS. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on MELI shares. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a report on Monday. Barclays decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,785.33.

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.