MercadoLibre, Inc. $MELI Shares Purchased by Groupe la Francaise

Groupe la Francaise raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.1% in the first quarter, Holdings Channel.com reports. The fund owned 16,305 shares of the company’s stock after buying an additional 784 shares during the quarter. Groupe la Francaise’s holdings in MercadoLibre were worth $28,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Norges Bank acquired a new stake in MercadoLibre during the 4th quarter worth approximately $597,045,000. Royal Bank of Canada raised its holdings in MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock valued at $768,728,000 after buying an additional 237,008 shares during the period. Marshall Wace LLP raised its holdings in MercadoLibre by 184.8% in the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the period. Finally, Baillie Gifford & Co. lifted its position in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,885.73 on Friday. The firm has a market capitalization of $95.61 billion, a PE ratio of 49.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The stock’s 50 day moving average price is $1,724.37 and its 200 day moving average price is $1,804.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

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 during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business earned $9.74 EPS. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lowered their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.

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.