Sycale Advisors NY LLC Sells 1,250 Shares of MercadoLibre, Inc. $MELI

Sycale Advisors NY LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,809 shares of the company’s stock after selling 1,250 shares during the period. MercadoLibre accounts for approximately 4.3% of Sycale Advisors NY LLC’s holdings, making the stock its 11th biggest position. Sycale Advisors NY LLC’s holdings in MercadoLibre were worth $13,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 22.5% during 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 during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after purchasing an additional 296,543 shares during the last quarter. Norges Bank bought a new position in shares of MercadoLibre during the 4th quarter valued at about $597,045,000. Marshall Wace LLP boosted its holdings in shares of MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after purchasing an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,589.60 on Monday. The firm’s 50-day moving average price is $1,715.68 and its 200-day moving average price is $1,872.88. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $80.59 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.

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

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wedbush dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average 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.