Fisher Funds Management LTD Grows Stake in MercadoLibre, Inc. $MELI

Fisher Funds Management LTD raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 646.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,471 shares of the company’s stock after buying an additional 30,716 shares during the quarter. MercadoLibre comprises 1.8% of Fisher Funds Management LTD’s investment portfolio, making the stock its 11th largest position. Fisher Funds Management LTD’s holdings in MercadoLibre were worth $61,330,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MELI. Baillie Gifford & Co. raised its holdings in shares of MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Capital Research Global Investors boosted its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Capital World Investors boosted its holdings in MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Capital International Investors boosted its holdings in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost 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 represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,635.15 on Monday. The firm has a market capitalization of $82.90 billion, a PE ratio of 43.16, a P/E/G ratio of 1.01 and a beta of 1.36. The stock’s 50 day moving average is $1,706.94 and its 200 day moving average is $1,858.47. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data 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). The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the company posted $9.74 EPS. Research analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MELI. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Scotiabank decreased their price target 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, BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

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.