MercadoLibre, Inc. $MELI Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,499 shares of the company’s stock after selling 10,258 shares during the quarter. MercadoLibre comprises about 2.1% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 11th biggest position. Amova Asset Management Americas Inc. owned 0.18% of MercadoLibre worth $213,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth approximately $29,000. Stone House Investment Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $39,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of MercadoLibre during the third quarter worth $35,000. Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in shares of MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of MercadoLibre 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the 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 sale, the director owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. BTIG Research dropped their price objective on MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group cut their target price on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,785.33.

MercadoLibre Stock Performance

Shares of MELI opened at $1,769.03 on Thursday. The stock has a market capitalization of $89.69 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 0.85 and a beta of 1.48. The business’s fifty day moving average price is $2,033.11 and its 200 day moving average price is $2,148.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 12-month low of $1,654.24 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the company posted $12.61 earnings per share. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current 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.