MercadoLibre, Inc. $MELI Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,242 shares of the company’s stock after selling 460 shares during the quarter. Manning & Napier Advisors LLC owned 0.05% of MercadoLibre worth $68,141,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC boosted its position in MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Lavaca Capital LLC lifted its stake in shares of MercadoLibre by 140,201.3% in the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Schroder Investment Management Group boosted its holdings in MercadoLibre by 16.6% during the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock worth $1,363,878,000 after buying an additional 74,201 shares in the last quarter. Ameriprise Financial Inc. grew its position in MercadoLibre by 3.6% during the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock valued at $709,535,000 after buying an additional 9,474 shares during the period. Finally, Norges Bank acquired a new position in MercadoLibre in the 2nd quarter worth about $698,848,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MELI shares. UBS Group reduced their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Susquehanna decreased their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. BTIG Research restated a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Thursday, December 4th. Finally, Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $2,842.94.

MercadoLibre Stock Down 3.6%

Shares of NASDAQ MELI opened at $2,073.57 on Wednesday. The stock has a market cap of $105.12 billion, a PE ratio of 50.60, a P/E/G ratio of 1.07 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22. The company has a 50-day moving average of $2,054.67 and a 200 day moving average of $2,244.75.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the business earned $7.83 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock valued at $2,308,788 in the last three months. 0.25% of the stock is currently owned by insiders.

About MercadoLibre

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.