Perpetual Ltd Decreases Stake in MercadoLibre, Inc. $MELI

Perpetual Ltd cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 63.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,808 shares of the company’s stock after selling 55,378 shares during the period. MercadoLibre comprises about 0.9% of Perpetual Ltd’s investment portfolio, making the stock its 29th biggest holding. Perpetual Ltd’s holdings in MercadoLibre were worth $64,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lavaca Capital LLC grew its stake in MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of MercadoLibre by 304.7% in the 2nd 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 purchasing an additional 192,071 shares in the last quarter. Flossbach Von Storch SE raised its position in shares of MercadoLibre by 1,669.4% in the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after purchasing an additional 171,449 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock valued at $1,153,911,000 after buying an additional 109,228 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,715.52 on Friday. MercadoLibre, Inc. has a twelve month low of $1,593.21 and a twelve month 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 0.68. The company has a market capitalization of $86.98 billion, a price-to-earnings ratio of 43.54, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49. The business has a 50 day simple moving average of $1,861.92 and a 200-day simple moving average of $2,044.44.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald decreased their price target on shares of 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. Barclays cut their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. BTIG Research dropped their target price on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Finally, Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,708.67.

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.