Brown Capital Management LLC Sells 1,244 Shares of MercadoLibre, Inc. $MELI

Brown Capital Management LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 23,118 shares of the company’s stock after selling 1,244 shares during the period. MercadoLibre accounts for about 2.2% of Brown Capital Management LLC’s holdings, making the stock its 21st largest position. Brown Capital Management LLC’s holdings in MercadoLibre were worth $54,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in MELI. E Fund Management Hong Kong Co. Ltd. increased its position in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares during the period. Quadcap Wealth Management LLC grew its stake in MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares in the last quarter. PFW Advisors LLC increased its holdings in MercadoLibre by 4.8% during the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC raised its position in MercadoLibre by 3.5% during the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after purchasing an additional 5 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC lifted its holdings in shares of MercadoLibre by 2.3% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In related news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was 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 SEC, which can be accessed through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 0.0%

NASDAQ MELI opened at $2,146.75 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company has a 50 day moving average price of $2,075.77 and a 200 day moving average price of $2,214.13. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market cap of $108.84 billion, a PE ratio of 52.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark cut their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Susquehanna dropped their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Finally, BTIG Research reissued a “buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,876.88.

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.