ABN Amro Investment Solutions Has $22.54 Million Stock Position in MercadoLibre, Inc. $MELI

ABN Amro Investment Solutions increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 27.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,038 shares of the company’s stock after purchasing an additional 2,813 shares during the period. ABN Amro Investment Solutions’ holdings in MercadoLibre were worth $22,543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. PNC Financial Services Group Inc. lifted its position in MercadoLibre by 41.6% during the first quarter. PNC Financial Services Group Inc. now owns 12,756 shares of the company’s stock worth $22,055,000 after purchasing an additional 3,745 shares during the period. Oslo Pensjonsforsikring AS bought a new position in MercadoLibre in the 1st quarter valued at about $73,000. DUTCH ASSET Corp increased its holdings in MercadoLibre by 194.4% in the 1st quarter. DUTCH ASSET Corp now owns 1,201 shares of the company’s stock valued at $2,077,000 after buying an additional 793 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at approximately $81,000. Finally, Titan Global Capital Management USA LLC raised its position in shares of MercadoLibre by 5.8% in the 1st quarter. Titan Global Capital Management USA LLC now owns 1,065 shares of the company’s stock valued at $1,841,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,822.65 on Wednesday. The company’s 50 day moving average price is $1,692.28 and its two-hundred day moving average price is $1,818.66. The firm has a market capitalization of $92.41 billion, a P/E ratio of 48.10, a P/E/G ratio of 1.13 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (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 analyst estimates of $8.29 billion. During the same quarter last year, the company posted $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. On average, equities analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Morgan Stanley lowered 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 report on Monday, May 11th. UBS Group cut their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Company 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.