Avity Investment Management Inc. Has $24.32 Million Stock Position in MercadoLibre, Inc. $MELI

Avity Investment Management Inc. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,073 shares of the company’s stock after selling 587 shares during the period. MercadoLibre accounts for about 1.7% of Avity Investment Management Inc.’s investment portfolio, making the stock its 24th biggest position. Avity Investment Management Inc.’s holdings in MercadoLibre were worth $24,318,000 at the end of the most recent reporting period.

Several 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 valued at about $29,000. Holos Integrated Wealth LLC bought a new stake in MercadoLibre during the 4th quarter worth about $32,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre in the 3rd quarter valued at about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre in the 3rd quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after acquiring an additional 8 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.9%

Shares of NASDAQ MELI opened at $1,599.52 on Friday. MercadoLibre, Inc. has a 52-week low of $1,593.21 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market cap of $81.10 billion, a P/E ratio of 40.60, a P/E/G ratio of 0.82 and a beta of 1.48. The firm has a 50 day moving average price of $1,901.13 and a 200 day moving average price of $2,066.92.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. BTIG Research decreased their price target on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating on the stock in a research note on Friday, March 20th. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Monday, March 9th. UBS Group reduced their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Barclays lowered their target price on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,708.67.

MercadoLibre 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.