TD Asset Management Inc Reduces Holdings in MercadoLibre, Inc. $MELI

TD Asset Management Inc lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,338 shares of the company’s stock after selling 3,341 shares during the period. TD Asset Management Inc owned approximately 0.06% of MercadoLibre worth $63,123,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter valued at approximately $29,000. Holos Integrated Wealth LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in MercadoLibre in the third quarter valued at approximately $35,000. Finally, Strengthening Families & Communities LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 1.7%

MercadoLibre stock opened at $1,607.80 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The stock’s 50 day simple moving average is $1,720.81 and its two-hundred day simple moving average is $1,887.84. The firm has a market cap of $81.51 billion, a PE ratio of 42.43, a P/E/G ratio of 1.01 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS 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 company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company posted $9.74 EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup lowered MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. UBS Group lowered their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the 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 transaction, the director 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.