BI Asset Management Fondsmaeglerselskab A S Reduces Stock Position in MercadoLibre, Inc. $MELI

BI Asset Management Fondsmaeglerselskab A S cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the first quarter, Holdings Channel reports. The institutional investor owned 36,481 shares of the company’s stock after selling 892 shares during the period. MercadoLibre makes up about 0.7% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 28th largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in MercadoLibre were worth $63,076,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MELI. Capital Research Global Investors raised its holdings in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 buying an additional 296,543 shares in the last quarter. Norges Bank acquired a new position in shares of MercadoLibre in the 4th quarter valued at $597,045,000. Marshall Wace LLP grew its position in shares of MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position 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 buying an additional 164,120 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their target price for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One research 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,635.15 on Friday. The firm has a market cap of $82.90 billion, a P/E ratio of 43.16, a PEG ratio of 1.01 and a beta of 1.36. 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 stock’s 50 day simple moving average is $1,706.94 and its 200-day simple moving average is $1,859.91. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.

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

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction 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 purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

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.