Northcape Capital Pty Ltd Sells 21,341 Shares of MercadoLibre, Inc. $MELI

Northcape Capital Pty Ltd lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.4% in the second quarter, HoldingsChannel reports. The firm owned 101,246 shares of the company’s stock after selling 21,341 shares during the quarter. MercadoLibre makes up approximately 23.2% of Northcape Capital Pty Ltd’s holdings, making the stock its 2nd biggest holding. Northcape Capital Pty Ltd’s holdings in MercadoLibre were worth $171,854,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB grew its holdings in shares of MercadoLibre by 8.8% during the second quarter. E. Ohman J or Asset Management AB now owns 19,145 shares of the company’s stock worth $32,497,000 after buying an additional 1,549 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of MercadoLibre by 10.3% in the second quarter. Handelsbanken Fonder AB now owns 23,973 shares of the company’s stock valued at $40,692,000 after buying an additional 2,231 shares during the last quarter. City Holding Co. lifted its stake in shares of MercadoLibre by 50.0% during the second quarter. City Holding Co. now owns 30 shares of the company’s stock valued at $51,000 after buying an additional 10 shares during the period. Revolve Wealth Partners LLC purchased a new position in shares of MercadoLibre during the second quarter valued at approximately $638,000. Finally, Matrix Trust Co boosted its position in MercadoLibre by 27.0% during the second quarter. Matrix Trust Co now owns 452 shares of the company’s stock worth $767,000 after acquiring an additional 96 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on MELI shares. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Scotiabank lowered their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Finally, Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Stock Up 0.2%

Shares of NASDAQ MELI opened at $1,824.34 on Tuesday. The stock has a market capitalization of $92.49 billion, a PE ratio of 49.61, a P/E/G ratio of 1.13 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $1,749.73 and a 200-day moving average of $1,793.59. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company posted $10.31 EPS. The business’s quarterly revenue was up 49.8% on a year-over-year basis. On average, analysts anticipate that MercadoLibre, Inc. will post 40.69 EPS for the current year.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Company 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.