Swiss Life Asset Management Ltd Sells 1,133 Shares of MercadoLibre, Inc. $MELI

Swiss Life Asset Management Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.6% in the third quarter, Holdings Channel.com reports. The fund owned 7,858 shares of the company’s stock after selling 1,133 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in MercadoLibre were worth $18,364,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre during the 3rd quarter worth approximately $35,000. Cullen Frost Bankers Inc. grew its holdings in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of several analyst reports. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Barclays decreased their target price on shares of 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. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,725.33.

MercadoLibre Trading Down 1.4%

MercadoLibre stock opened at $1,666.93 on Friday. The firm has a market capitalization of $84.51 billion, a price-to-earnings ratio of 42.31, a P/E/G ratio of 0.83 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $1,959.01 and a 200 day moving average of $2,099.04. MercadoLibre, Inc. has a 12-month low of $1,631.18 and a 12-month high of $2,645.22.

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 the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $12.61 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.