Amova Asset Management Americas Inc. Sells 4,933 Shares of MercadoLibre, Inc. $MELI

Amova Asset Management Americas Inc. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,540 shares of the company’s stock after selling 4,933 shares during the quarter. MercadoLibre makes up about 1.9% of Amova Asset Management Americas Inc.’s holdings, making the stock its 16th largest position. Amova Asset Management Americas Inc. owned about 0.15% of MercadoLibre worth $132,277,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter worth $30,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of analyst reports. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and lowered their price target for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Up 1.0%

MELI opened at $1,832.42 on Tuesday. The business’s fifty day simple moving average is $1,687.40 and its 200 day simple moving average is $1,820.01. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $92.90 billion, a PE ratio of 48.36, a P/E/G ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period last year, the firm earned $9.74 EPS. As a group, research analysts expect that MercadoLibre, Inc. will post 41 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.