MercadoLibre, Inc. $MELI Shares Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 34.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 60,610 shares of the company’s stock after buying an additional 15,555 shares during the quarter. MercadoLibre comprises 1.5% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Manning & Napier Advisors LLC owned about 0.12% of MercadoLibre worth $104,796,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its holdings in MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association increased its position in MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC increased its position in MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas increased its position in MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after purchasing an additional 6,200 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI traded up $44.39 during mid-day trading on Friday, hitting $1,852.22. The stock had a trading volume of 406,269 shares, compared to its average volume of 405,449. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a market cap of $93.91 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a 50 day simple moving average of $1,675.89 and a 200 day simple moving average of $1,827.82. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

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

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their target price for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.