Bamco Inc. NY Cuts Stock Holdings in MercadoLibre, Inc. $MELI

Bamco Inc. NY decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,964 shares of the company’s stock after selling 670 shares during the quarter. Bamco Inc. NY owned 0.12% of MercadoLibre worth $124,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the 2nd quarter worth approximately $29,000. Curio Wealth LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $30,000. Finally, Holos Integrated Wealth LLC bought a new stake in MercadoLibre in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on MELI. Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Trading Down 2.5%

NASDAQ MELI opened at $1,631.82 on Thursday. The stock has a market cap of $82.73 billion, a P/E ratio of 43.07, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The stock has a 50 day simple moving average of $1,711.90 and a two-hundred day simple moving average of $1,864.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company earned $9.74 EPS. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate 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.