KBC Group NV Lowers Stock Position in MercadoLibre, Inc. $MELI

KBC Group NV cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 41.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,179 shares of the company’s stock after selling 31,847 shares during the period. KBC Group NV’s holdings in MercadoLibre were worth $78,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Interchange Capital Partners LLC increased its stake in MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC increased its holdings in shares of MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. raised its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after acquiring an additional 5 shares during the period. Strategic Advisors LLC increased its position in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock worth $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after buying an additional 5 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. UBS Group reduced their price objective on 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. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

Insider Buying and Selling

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

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,813.91 on Monday. The firm’s fifty day simple moving average is $1,681.90 and its 200-day simple moving average is $1,821.33. The stock has a market capitalization of $91.97 billion, a price-to-earnings ratio of 47.87, a PEG ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. 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 (NASDAQ:MELI) last released its quarterly 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the company earned $9.74 EPS. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current year.

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.