Hsbc Holdings PLC Increases Stock Position in MercadoLibre, Inc. $MELI

Hsbc Holdings PLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,157 shares of the company’s stock after acquiring an additional 3,998 shares during the period. Hsbc Holdings PLC owned approximately 0.14% of MercadoLibre worth $147,326,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Bison Wealth LLC acquired a new stake in MercadoLibre in the 4th quarter valued at approximately $206,000. Empowered Funds LLC raised its position in MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth lifted its stake in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in MercadoLibre during the second quarter worth $261,000. Finally, Gamco Investors INC. ET AL lifted its stake in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MELI. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on 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. Wedbush lowered their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

MELI stock opened at $1,635.15 on Friday. The company’s 50 day moving average price is $1,706.94 and its 200 day moving average price is $1,859.91. The firm has a market capitalization of $82.90 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.01 and a beta of 1.36. 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 debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last posted 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 firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm earned $9.74 EPS. The company’s revenue was up 49.0% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Activity

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

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.