Equitable Trust Co. Has $325,000 Stock Holdings in MercadoLibre, Inc. $MELI

Equitable Trust Co. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 93.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 188 shares of the company’s stock after selling 2,859 shares during the quarter. Equitable Trust Co.’s holdings in MercadoLibre were worth $325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after buying an additional 296,543 shares during the period. Norges Bank acquired a new position in MercadoLibre in the fourth quarter valued at approximately $597,045,000. Marshall Wace LLP boosted its stake in MercadoLibre by 184.8% in the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after acquiring an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after acquiring an additional 164,120 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Up 2.5%

MercadoLibre stock traded up $44.39 during mid-day trading on Friday, reaching $1,852.22. The company’s stock had a trading volume of 406,269 shares, compared to its average volume of 405,449. The business’s 50 day simple moving average is $1,675.89 and its 200 day simple moving average is $1,827.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a market capitalization of $93.91 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.74 EPS. As a group, research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on MELI. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Cantor Fitzgerald dropped their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.