MercadoLibre, Inc. $MELI Stock Position Lowered by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 36.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 155,395 shares of the company’s stock after selling 87,508 shares during the period. Artisan Partners Limited Partnership’s holdings in MercadoLibre were worth $313,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MercadoLibre during the third quarter worth $35,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,674.08 on Wednesday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $84.88 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36. The stock’s fifty day simple moving average is $1,713.47 and its 200-day simple moving average is $1,867.47.

MercadoLibre (NASDAQ:MELI) last issued its quarterly 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 business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the firm posted $9.74 EPS. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and cut their target price for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Citigroup lowered MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Benchmark cut their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Cantor Fitzgerald cut their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average 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.