Cercano Management LLC Lowers Stock Holdings in MercadoLibre, Inc. $MELI

Cercano Management LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 96.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 199 shares of the company’s stock after selling 5,063 shares during the quarter. Cercano Management LLC’s holdings in MercadoLibre were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. Assenagon Asset Management S.A. grew its stake in shares of MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after purchasing an additional 296,543 shares during the last quarter. Norges Bank purchased a new position in shares of MercadoLibre in the 4th quarter valued at approximately $597,045,000. Baillie Gifford & Co. grew its stake in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of MercadoLibre by 28.4% in the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after purchasing an additional 109,228 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of MercadoLibre by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock valued at $976,846,000 after purchasing an additional 93,854 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on MELI shares. Wedbush decreased their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Benchmark decreased their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Scotiabank decreased their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. Finally, UBS Group decreased their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Up 2.1%

MELI opened at $1,730.98 on Tuesday. The business’s fifty day moving average is $1,720.80 and its two-hundred day moving average is $1,898.53. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market cap of $87.76 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 1.04 and a beta of 1.36. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

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.