Chicago Capital LLC Has $10.02 Million Stock Position in MercadoLibre, Inc. $MELI

Chicago Capital LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,287 shares of the company’s stock after purchasing an additional 305 shares during the period. Chicago Capital LLC’s holdings in MercadoLibre were worth $10,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Jackson Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth $499,000. Highview Capital Management LLC DE bought a new stake in shares of MercadoLibre in the second quarter valued at about $559,000. Ninety One North America Inc. grew its stake in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. increased its position in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock worth $39,900,000 after acquiring an additional 585 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $503,778.48. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on MELI. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Thursday, December 4th. Barclays raised their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Wedbush decreased their price target on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Citigroup decreased their price target on 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. Finally, Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,148.62 on Tuesday. The company has a market cap of $108.94 billion, a P/E ratio of 52.43, a PEG ratio of 0.98 and a beta of 1.42. The company has a fifty day simple moving average of $2,074.00 and a 200 day simple moving average of $2,259.65. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 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 business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.83 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.