MercadoLibre, Inc. $MELI Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 239,692 shares of the company’s stock after purchasing an additional 12,465 shares during the quarter. Legal & General Group Plc owned 0.47% of MercadoLibre worth $560,146,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MELI. Lavaca Capital LLC grew its position in shares of MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after buying an additional 1,065,530 shares in the last quarter. Norges Bank acquired a new stake in MercadoLibre in the second quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in MercadoLibre by 304.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after acquiring an additional 192,071 shares in the last quarter. Flossbach Von Storch SE boosted its stake in MercadoLibre by 1,669.4% during the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after acquiring an additional 171,449 shares during the last quarter. Finally, Durable Capital Partners LP boosted its stake in MercadoLibre by 155.3% during the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock valued at $386,775,000 after acquiring an additional 90,026 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,742.09 on Wednesday. The company has a market cap of $88.32 billion, a P/E ratio of 44.22, a PEG ratio of 0.89 and a beta of 1.48. The business has a 50 day moving average of $2,013.94 and a two-hundred day moving average of $2,130.27. MercadoLibre, Inc. has a 52 week low of $1,654.24 and a 52 week high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $12.61 earnings per share. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MELI shares. Wedbush dropped their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Morgan Stanley reduced their target price on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald decreased their target price on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,762.00.

Insiders Place Their Bets

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated 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 transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by corporate insiders.

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.