Aberdeen Group plc Lowers Stake in MercadoLibre, Inc. $MELI

Aberdeen Group plc lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 52.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,664 shares of the company’s stock after selling 40,964 shares during the quarter. Aberdeen Group plc owned 0.07% of MercadoLibre worth $75,865,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Holos Integrated Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of MercadoLibre during the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre during the third quarter worth about $35,000. Finally, Cullen Frost Bankers Inc. grew its stake in 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 buying an additional 8 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI opened at $1,715.52 on Friday. The company has a market capitalization of $86.98 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49. The business has a 50-day moving average of $1,861.92 and a 200-day moving average of $2,044.44. MercadoLibre, Inc. has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22. 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 (NASDAQ:MELI) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the business posted $12.61 EPS. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MELI. Wedbush lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Barclays dropped their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Morgan Stanley reduced their price objective on 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. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus 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.