Federated Hermes Inc. Has $94.13 Million Stock Holdings in MercadoLibre, Inc. $MELI

Federated Hermes Inc. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,278 shares of the company’s stock after selling 5,271 shares during the period. Federated Hermes Inc. owned approximately 0.08% of MercadoLibre worth $94,127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the second quarter valued at about $29,000. Curio Wealth LLC increased its stake in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after acquiring an additional 14 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $39,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the 3rd quarter worth approximately $35,000. Finally, Cullen Frost Bankers Inc. grew its holdings in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Stelleo Tolda sold 246 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their position. 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 three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Citigroup reduced their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Susquehanna decreased their target price on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Morgan Stanley lifted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,268.60 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The firm has a market cap of $115.02 billion, a price-to-earnings ratio of 55.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.42. The stock’s 50-day moving average is $2,062.72 and its 200-day moving average is $2,219.72. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22.

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

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.