Punch & Associates Investment Management Inc. Has $17.26 Million Stock Position in MercadoLibre, Inc. $MELI

Punch & Associates Investment Management Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,570 shares of the company’s stock after purchasing an additional 719 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in MercadoLibre were worth $17,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Siegel & Walmsley LLC boosted its position in shares of MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. Weitz Investment Management Inc. purchased a new stake in MercadoLibre in the 3rd quarter worth about $8,647,000. TIAA Trust National Association lifted its stake in MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares in the last quarter. Brown Advisory Inc. lifted its stake in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Finally, Deepwater Asset Management LLC lifted its stake in MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 1.7%

Shares of MELI stock opened at $1,674.08 on Wednesday. The stock’s 50 day simple moving average is $1,713.47 and its 200 day simple moving average is $1,867.47. 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, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a market capitalization of $84.88 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 1.01 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued 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 net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business posted $9.74 earnings per share. The firm’s revenue was up 49.0% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on 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 purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. UBS Group reduced their price objective 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. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,255.33.

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.