The Manufacturers Life Insurance Company Sells 664 Shares of MercadoLibre, Inc. $MELI

The Manufacturers Life Insurance Company lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,016 shares of the company’s stock after selling 664 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $32,860,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Norges Bank bought a new position in MercadoLibre during the fourth quarter valued at approximately $597,045,000. Marshall Wace LLP boosted its stake in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the last quarter. Baillie Gifford & Co. grew its holdings in 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 buying an additional 164,120 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.4%

Shares of NASDAQ:MELI opened at $1,877.95 on Friday. The firm has a market capitalization of $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.35. The business has a 50 day simple moving average of $1,728.64 and a two-hundred day simple moving average of $1,804.99. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year 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 issued its quarterly earnings results 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). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the company posted $9.74 earnings per share. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Scotiabank reduced their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target 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 on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

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.