Calamos Advisors LLC Reduces Holdings in MercadoLibre, Inc. $MELI

Calamos Advisors LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 7,098 shares of the company’s stock after selling 377 shares during the period. Calamos Advisors LLC’s holdings in MercadoLibre were worth $16,588,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lavaca Capital LLC increased its holdings in shares of MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after acquiring an additional 1,065,530 shares during the period. Norges Bank acquired a new position in MercadoLibre in the second quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after buying an additional 192,071 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after buying an additional 96,283 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in shares of MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after buying an additional 90,026 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.3%

Shares of NASDAQ MELI opened at $2,020.88 on Wednesday. The stock has a market capitalization of $102.46 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. MercadoLibre, Inc. has a 52 week low of $1,698.53 and a 52 week high of $2,645.22. The firm has a 50-day moving average price of $2,084.72 and a 200 day moving average price of $2,270.20. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.83 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on MELI shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Morgan Stanley lifted their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Finally, Citigroup reduced their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

About MercadoLibre

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.