Arrowstreet Capital Limited Partnership Sells 173,708 Shares of MercadoLibre, Inc. $MELI

Arrowstreet Capital Limited Partnership decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 46.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 199,058 shares of the company’s stock after selling 173,708 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in MercadoLibre were worth $400,954,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in MELI. Hardy Reed LLC lifted its holdings in shares of MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after acquiring an additional 5 shares during the period. Rothschild Investment LLC lifted its holdings in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. Interchange Capital Partners LLC lifted its holdings in shares of 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 acquiring an additional 5 shares during the period. Cornerstone Select Advisors LLC lifted its holdings in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after acquiring an additional 5 shares during the period. Finally, Mitchell Capital Management Co. lifted 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. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.3%

Shares of MercadoLibre stock opened at $1,589.60 on Friday. The stock has a market capitalization of $80.59 billion, a P/E ratio of 41.95, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $1,715.68 and a 200 day simple moving average of $1,873.83. 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 the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.74 EPS. Research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on MELI shares. Wedbush reduced 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. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. Jefferies Financial Group raised shares of 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 report on Tuesday, April 7th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Finally, Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

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.