Westpac Banking Corp Sells 1,039 Shares of MercadoLibre, Inc. $MELI

Westpac Banking Corp cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 83.8% in the first quarter, Holdings Channel reports. The institutional investor owned 201 shares of the company’s stock after selling 1,039 shares during the period. Westpac Banking Corp’s holdings in MercadoLibre were worth $348,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the 4th quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter worth about $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth about $30,000. Institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction 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. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,798.70 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a market capitalization of $91.19 billion, a P/E ratio of 47.47, a P/E/G ratio of 1.11 and a beta of 1.35. The company’s 50-day simple moving average is $1,700.85 and its two-hundred day simple moving average is $1,815.91. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm posted $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. UBS Group decreased their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Benchmark reduced their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Company 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.