Assetmark Inc. Sells 477 Shares of MercadoLibre, Inc. $MELI

Assetmark Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 12.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,238 shares of the company’s stock after selling 477 shares during the quarter. Assetmark Inc.’s holdings in MercadoLibre were worth $5,599,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after acquiring an additional 296,543 shares during the last quarter. Norges Bank bought a new position in shares of MercadoLibre during the fourth quarter valued at $597,045,000. Marshall Wace LLP lifted its holdings in shares of MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after purchasing an additional 202,322 shares during the period. Finally, Baillie Gifford & Co. lifted 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 worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MELI shares. Morgan Stanley decreased their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. UBS Group reduced their price target on 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. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

MercadoLibre Stock Down 0.5%

Shares of MercadoLibre stock opened at $1,822.65 on Wednesday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year 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. The stock’s 50-day moving average is $1,692.28 and its 200 day moving average is $1,818.66. The firm has a market cap of $92.41 billion, a price-to-earnings ratio of 48.10, a PEG ratio of 1.13 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last issued its 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 return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current year.

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.