Capital Group Private Client Services Inc. Reduces Stake in MercadoLibre, Inc. $MELI

Capital Group Private Client Services Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,673 shares of the company’s stock after selling 664 shares during the period. Capital Group Private Client Services Inc.’s holdings in MercadoLibre were worth $21,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter worth about $29,000. Curio Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth about $30,000. Holos Integrated Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre in the third quarter worth about $35,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,607.80 on Friday. The company has a 50 day moving average price of $1,720.81 and a 200-day moving average price of $1,887.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The company has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm posted $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s 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 completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Benchmark decreased their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Scotiabank decreased their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock 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.