Amova Asset Management Americas Inc. Has $164.11 Million Stock Position in MercadoLibre, Inc. $MELI

Amova Asset Management Americas Inc. trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% during the fourth quarter, Holdings Channel reports. The firm owned 81,473 shares of the company’s stock after selling 10,026 shares during the period. MercadoLibre comprises 1.9% of Amova Asset Management Americas Inc.’s holdings, making the stock its 15th biggest holding. Amova Asset Management Americas Inc.’s holdings in MercadoLibre were worth $164,107,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC boosted its holdings in MercadoLibre by 81.3% during the fourth quarter. GW&K Investment Management LLC now owns 29 shares of the company’s stock valued at $58,000 after purchasing an additional 13 shares in the last quarter. X Square Capital LLC grew its holdings in shares of MercadoLibre by 103.2% in the 4th quarter. X Square Capital LLC now owns 3,830 shares of the company’s stock worth $7,714,000 after purchasing an additional 1,945 shares during the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of MercadoLibre by 14.3% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 800 shares of the company’s stock worth $1,611,000 after purchasing an additional 100 shares during the last quarter. TIAA Trust National Association grew its holdings in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of MercadoLibre by 9.3% in the 4th quarter. Cerity Partners LLC now owns 4,799 shares of the company’s stock worth $9,669,000 after purchasing an additional 409 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MELI shares. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and dropped their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, UBS Group cut their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,641.16 on Wednesday. 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 firm has a 50 day simple moving average of $1,721.27 and a 200 day simple moving average of $1,880.43. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The firm has a market cap of $83.21 billion, a P/E ratio of 43.31, a P/E/G ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last released its 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 net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the business posted $9.74 earnings per share. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

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.