Lord Abbett & CO. LLC Has $101.21 Million Stake in MercadoLibre, Inc. $MELI

Lord Abbett & CO. LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 33.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,248 shares of the company’s stock after selling 25,797 shares during the period. Lord Abbett & CO. LLC’s holdings in MercadoLibre were worth $101,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Hardy Reed LLC lifted its position in shares of MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after buying an additional 5 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after buying an additional 5 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its position in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after buying an additional 5 shares in the last quarter. Interchange Capital Partners LLC lifted its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares in the last quarter. Finally, Cornerstone Select Advisors LLC lifted its position in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 1.3%

NASDAQ:MELI opened at $1,589.60 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $80.59 billion, a PE ratio of 41.95, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36. The firm’s 50 day moving average is $1,715.68 and its 200 day moving average is $1,873.83. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period last year, the firm posted $9.74 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their target price for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.