Bank of New York Mellon Corp Sells 29,771 Shares of MercadoLibre, Inc. $MELI

Bank of New York Mellon Corp decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 21.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 107,512 shares of the company’s stock after selling 29,771 shares during the quarter. Bank of New York Mellon Corp’s holdings in MercadoLibre were worth $216,557,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Down 1.7%

MELI stock opened at $1,607.80 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $1,720.81 and its 200-day moving average is $1,887.84. The firm has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on MELI shares. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.