Northcape Capital Pty Ltd Has $186.92 Million Stock Position in MercadoLibre, Inc. $MELI

Northcape Capital Pty Ltd decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,986 shares of the company’s stock after selling 2,054 shares during the quarter. MercadoLibre makes up approximately 25.8% of Northcape Capital Pty Ltd’s holdings, making the stock its 2nd largest holding. Northcape Capital Pty Ltd owned about 0.16% of MercadoLibre worth $186,922,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $206,000. Advisors Asset Management Inc. raised its holdings in MercadoLibre by 7.8% during the 1st quarter. Advisors Asset Management Inc. now owns 290 shares of the company’s stock worth $566,000 after purchasing an additional 21 shares during the last quarter. Banque Transatlantique SA lifted its position in MercadoLibre by 150.0% during the 1st quarter. Banque Transatlantique SA now owns 60 shares of the company’s stock valued at $108,000 after purchasing an additional 36 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in MercadoLibre by 62.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 646 shares of the company’s stock valued at $1,260,000 after purchasing an additional 249 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of MercadoLibre by 18.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,651 shares of the company’s stock valued at $11,024,000 after purchasing an additional 879 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

MELI stock opened at $1,973.70 on Friday. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The firm has a market cap of $100.07 billion, a PE ratio of 48.16, a P/E/G ratio of 0.98 and a beta of 1.42. The business’s 50-day moving average price is $2,076.67 and its two-hundred day moving average price is $2,262.43.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same period in the prior year, the business earned $7.83 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stelleo Tolda sold 246 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,136 shares of company stock worth $2,308,788. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MELI. BTIG Research reissued a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Thursday, December 4th. Morgan Stanley upped their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. UBS Group reduced their price target on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

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.