MercadoLibre, Inc. $MELI Shares Bought by Generali Asset Management SPA SGR

Generali Asset Management SPA SGR lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,451 shares of the company’s stock after purchasing an additional 358 shares during the quarter. Generali Asset Management SPA SGR’s holdings in MercadoLibre were worth $12,739,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Optimize Financial Inc raised its position in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after acquiring an additional 4 shares during the period. Range Financial Group LLC increased its stake in shares of MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after purchasing an additional 5 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after purchasing an additional 5 shares in the last quarter. Quadcap Wealth Management LLC raised its holdings in MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares during the period. Finally, PFW Advisors LLC boosted its position in MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,136 shares of company stock valued at $2,308,788 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

MercadoLibre Trading Down 0.3%

Shares of MELI opened at $2,014.26 on Friday. MercadoLibre, Inc. has a 52-week low of $1,698.53 and a 52-week high of $2,645.22. The stock has a market cap of $102.12 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. The firm’s fifty day moving average is $2,080.42 and its two-hundred day moving average is $2,266.65. 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 posted its quarterly 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 business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the business posted $7.83 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Barclays lifted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. 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. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Thursday, December 4th. Finally, Wedbush cut their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average 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.