Westpac Banking Corp Has $2.50 Million Position in MercadoLibre, Inc. $MELI

Westpac Banking Corp reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 34.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,240 shares of the company’s stock after selling 643 shares during the quarter. Westpac Banking Corp’s holdings in MercadoLibre were worth $2,498,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Assenagon Asset Management S.A. grew its position in MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after buying an additional 296,543 shares in the last quarter. Norges Bank acquired a new stake in MercadoLibre during the fourth quarter worth about $597,045,000. Baillie Gifford & Co. grew 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 worth $7,012,773,000 after buying an additional 164,120 shares in the last quarter. Wellington Management Group LLP grew its position in MercadoLibre by 28.4% during the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after buying an additional 109,228 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in MercadoLibre by 29.0% during the third quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock worth $976,846,000 after buying an additional 93,854 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Down 2.0%

Shares of MELI opened at $1,638.54 on Thursday. The company has a market capitalization of $83.07 billion, a P/E ratio of 43.24, a PEG ratio of 1.03 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The business’s 50 day simple moving average is $1,720.99 and its 200-day simple moving average is $1,892.73.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during 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 firm’s revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.74 earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MELI. JPMorgan Chase & Co. decreased their target price 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. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.