BI Asset Management Fondsmaeglerselskab A S Sells 6,650 Shares of MercadoLibre, Inc. $MELI

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 15.1% in the fourth quarter, HoldingsChannel reports. The fund owned 37,373 shares of the company’s stock after selling 6,650 shares during the period. MercadoLibre makes up 0.7% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 28th biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in MercadoLibre were worth $75,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MELI. Thompson Siegel & Walmsley LLC boosted its position in shares of MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares during the period. Weitz Investment Management Inc. bought a new stake in MercadoLibre during the third quarter valued at approximately $8,647,000. Penserra Capital Management LLC lifted its position in MercadoLibre by 34.5% during the third quarter. Penserra Capital Management LLC now owns 3,014 shares of the company’s stock valued at $7,042,000 after purchasing an additional 773 shares during the last quarter. Integrated Financial Solutions Inc. lifted its position in MercadoLibre by 129.7% during the fourth quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock valued at $4,248,000 after purchasing an additional 1,191 shares during the last quarter. Finally, Employees Retirement System of Texas raised its stake in shares of MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on MELI shares. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,607.80 on Friday. The stock has a market cap of $81.52 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 1.01 and a beta of 1.36. The firm’s 50-day moving average is $1,720.81 and its 200 day moving average is $1,887.84. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (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 during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm earned $9.74 EPS. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

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.