Baillie Gifford & Co. Cuts Stake in MercadoLibre, Inc. $MELI

Baillie Gifford & Co. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,317,443 shares of the company’s stock after selling 188,229 shares during the period. MercadoLibre makes up about 5.7% of Baillie Gifford & Co.’s investment portfolio, making the stock its 2nd largest holding. Baillie Gifford & Co. owned about 6.54% of MercadoLibre worth $7,752,665,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre in the third quarter worth about $35,000. Highline Wealth Partners LLC grew its position in MercadoLibre by 366.7% in 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 in the last quarter. Curio Wealth LLC increased its stake in MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares during the period. Finally, Stone House Investment Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth about $39,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 0.8%

MercadoLibre stock opened at $2,137.29 on Friday. The company has a market capitalization of $108.36 billion, a P/E ratio of 52.15, a P/E/G ratio of 1.07 and a beta of 1.42. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The firm’s fifty day simple moving average is $2,051.07 and its 200-day simple moving average is $2,224.91. 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 (NASDAQ:MELI) last posted 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). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the business earned $7.83 earnings per share. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was 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 directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stelleo Tolda sold 246 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were 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 ninety days, insiders have sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. BTIG Research reissued a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Thursday, December 4th. Benchmark decreased their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Morgan Stanley increased their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Finally, Susquehanna cut their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.