Mediolanum International Funds Ltd Grows Stock Holdings in MercadoLibre, Inc. $MELI

Mediolanum International Funds Ltd boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,270 shares of the company’s stock after purchasing an additional 3,681 shares during the period. Mediolanum International Funds Ltd’s holdings in MercadoLibre were worth $40,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares during the period. Lavaca Capital LLC increased its position in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after acquiring an additional 1,065,530 shares during the last quarter. Schroder Investment Management Group increased its position in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in MercadoLibre by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock valued at $709,535,000 after acquiring an additional 9,474 shares during the period. Finally, Norges Bank purchased a new position in MercadoLibre in the second quarter worth about $698,848,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $2,147.79 on Friday. The company has a 50 day simple moving average of $2,073.01 and a two-hundred day simple moving average of $2,216.89. 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 $108.89 billion, a P/E ratio of 52.41, a PEG ratio of 1.10 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.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS 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 firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the business earned $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated 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 transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,136 shares of company stock worth $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MELI shares. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Morgan Stanley upped their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Susquehanna decreased their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Citigroup cut their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Finally, Wedbush reduced their price objective on 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 analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,876.88.

MercadoLibre Company 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.