Mirae Asset Global Investments Co. Ltd. Grows Holdings in MercadoLibre, Inc. $MELI

Mirae Asset Global Investments Co. Ltd. increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,889 shares of the company’s stock after buying an additional 714 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of MercadoLibre worth $72,186,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth lifted its holdings in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC bought a new position in MercadoLibre during the 2nd quarter worth approximately $261,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of MercadoLibre by 9.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 7,339 shares of the company’s stock valued at $19,183,000 after acquiring an additional 655 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 1.2%

Shares of MELI stock opened at $2,268.60 on Thursday. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The firm has a market capitalization of $115.02 billion, a PE ratio of 55.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.42. The stock has a fifty day moving average of $2,062.72 and a two-hundred day moving average of $2,219.72. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Barclays raised their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Wedbush cut their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Finally, Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,842.94.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was 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 of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

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.