FDx Advisors Inc. Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

FDx Advisors Inc. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 319 shares of the company’s stock after selling 16 shares during the quarter. FDx Advisors Inc.’s holdings in MercadoLibre were worth $270,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MELI. International Assets Investment Management LLC purchased a new stake in MercadoLibre in the 4th quarter valued at $482,000. Baillie Gifford & Co. grew its holdings in shares of MercadoLibre by 5.9% during the 4th quarter. Baillie Gifford & Co. now owns 6,125,300 shares of the company’s stock worth $5,183,474,000 after purchasing an additional 342,065 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of MercadoLibre during the 3rd quarter worth $121,601,000. Renaissance Technologies LLC lifted its stake in MercadoLibre by 71.7% during the 3rd quarter. Renaissance Technologies LLC now owns 242,500 shares of the company’s stock worth $200,737,000 after acquiring an additional 101,234 shares in the last quarter. Finally, Axiom Investors LLC DE lifted its stake in MercadoLibre by 275.7% during the 3rd quarter. Axiom Investors LLC DE now owns 125,572 shares of the company’s stock worth $103,946,000 after acquiring an additional 92,146 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,284.13 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $600.68 and a fifty-two week high of $1,365.64. The stock has a market cap of $64.48 billion, a price-to-earnings ratio of 105.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. The business has a fifty day moving average of $1,265.04 and a 200-day moving average of $1,108.82. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 1.23.

MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $3.97 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.93. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.88 billion. MercadoLibre had a return on equity of 34.92% and a net margin of 5.46%. The business’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. As a group, analysts predict that MercadoLibre, Inc. will post 16.68 earnings per share for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 150 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the completion of the sale, the director now owns 115 shares of the company’s stock, valued at $144,440. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MELI. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating and set a $1,350.00 price target on the stock. in a research report on Thursday, April 6th. Bank of America raised their target price on MercadoLibre from $1,400.00 to $1,680.00 and gave the stock a “buy” rating in a research report on Thursday, April 13th. BTIG Research raised their target price on MercadoLibre from $1,400.00 to $1,600.00 in a research report on Thursday, May 4th. Citigroup lifted their target price on MercadoLibre from $1,100.00 to $1,460.00 in a research note on Friday, March 3rd. Finally, Credit Suisse Group lowered their target price on MercadoLibre from $1,750.00 to $1,700.00 in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,480.50.

MercadoLibre Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.