MercadoLibre, Inc. $MELI Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 418,002 shares of the company’s stock after purchasing an additional 93,854 shares during the quarter. Franklin Resources Inc.’s holdings in MercadoLibre were worth $976,846,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bison Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Empowered Funds LLC boosted its stake in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth boosted its stake in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new position in MercadoLibre during the 2nd quarter worth approximately $261,000. Finally, Savant Capital LLC grew its position in MercadoLibre by 23.3% during the 2nd quarter. Savant Capital LLC now owns 408 shares of the company’s stock worth $1,065,000 after purchasing an additional 77 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. UBS Group reduced their target price on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a report on Friday, February 27th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Barclays dropped their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,762.00.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Trading Down 1.6%

Shares of NASDAQ:MELI opened at $1,742.09 on Wednesday. The firm has a fifty day moving average of $2,013.94 and a two-hundred day moving average of $2,130.27. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 12-month low of $1,654.24 and a 12-month high of $2,645.22. The firm has a market capitalization of $88.32 billion, a P/E ratio of 44.22, a price-to-earnings-growth ratio of 0.89 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period last year, the company posted $12.61 earnings per share. The company’s revenue was up 44.6% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.