MercadoLibre, Inc. $MELI Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,421 shares of the company’s stock after selling 785 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of MercadoLibre worth $195,959,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Bison Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC increased its holdings in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth raised its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the second quarter worth about $261,000. Finally, Atlantic Union Bankshares Corp lifted its holdings in shares of MercadoLibre by 94.3% during the second quarter. Atlantic Union Bankshares Corp now owns 204 shares of the company’s stock worth $533,000 after purchasing an additional 99 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on MELI. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. BTIG Research decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating on the stock in a report on Monday, March 2nd. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,785.33.

Insider Transactions at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,136 shares of company stock valued at $2,308,788 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Stock Up 0.4%

MercadoLibre stock opened at $1,787.86 on Monday. The firm has a market cap of $90.64 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. MercadoLibre, Inc. has a 52 week low of $1,654.24 and a 52 week high of $2,645.22. The business’s 50-day moving average price is $2,024.42 and its 200 day moving average price is $2,139.12. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68.

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

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.