Capital Group Investment Management PTE. LTD. Has $7.12 Million Stock Position in MercadoLibre, Inc. $MELI

Capital Group Investment Management PTE. LTD. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,536 shares of the company’s stock after purchasing an additional 677 shares during the period. MercadoLibre makes up approximately 1.2% of Capital Group Investment Management PTE. LTD.’s investment portfolio, making the stock its 21st biggest holding. Capital Group Investment Management PTE. LTD.’s holdings in MercadoLibre were worth $7,122,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $29,000. Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $30,000. Holos Integrated Wealth LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $32,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MercadoLibre during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was 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 in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Down 1.7%

Shares of NASDAQ MELI opened at $1,607.80 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm’s 50-day moving average is $1,720.81 and its 200-day moving average is $1,887.84. 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 firm has a market capitalization of $81.52 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued 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 business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. Morgan Stanley dropped their target price 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. Scotiabank lowered their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.