Asset Management One Co. Ltd. Decreases Position in MercadoLibre, Inc. $MELI

Asset Management One Co. Ltd. lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,024 shares of the company’s stock after selling 1,979 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.06% of MercadoLibre worth $74,838,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter worth $29,000. Highline Wealth Partners LLC lifted its position in shares of MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. Curio Wealth LLC grew its stake in shares of MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after acquiring an additional 14 shares during the period. Stone House Investment Management LLC purchased a new stake in MercadoLibre in the 2nd quarter worth about $39,000. Finally, McIlrath & Eck LLC increased its holdings in MercadoLibre by 375.0% in the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock worth $37,000 after acquiring an additional 15 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,973.70 on Friday. The company has a 50 day moving average of $2,076.67 and a 200 day moving average of $2,262.43. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a market cap of $100.07 billion, a P/E ratio of 48.16, a P/E/G ratio of 0.98 and a beta of 1.42. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the business earned $7.83 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Wedbush cut their price objective on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. Finally, 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 note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

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.