AEGON ASSET MANAGEMENT UK Plc Reduces Holdings in MercadoLibre, Inc. $MELI

AEGON ASSET MANAGEMENT UK Plc decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 57.3% during the first quarter, HoldingsChannel reports. The fund owned 8,462 shares of the company’s stock after selling 11,348 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in MercadoLibre were worth $14,624,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre during the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the fourth quarter worth about $28,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,635.15 on Friday. The company has a 50 day moving average price of $1,706.94 and a 200-day moving average price of $1,859.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The company 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.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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). 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%.The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period last year, the company earned $9.74 EPS. As a group, equities analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley cut their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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 cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

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.