Eurizon Capital SGR S.p.A. Takes $29.25 Million Position in MercadoLibre, Inc. $MELI

Eurizon Capital SGR S.p.A. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 14,519 shares of the company’s stock, valued at approximately $29,249,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in shares of MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the last quarter. Capital Research Global Investors boosted its position in shares of MercadoLibre by 3.4% during the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after buying an additional 59,838 shares during the last quarter. Capital World Investors boosted its position in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after buying an additional 22,659 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of MercadoLibre by 9.8% during the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after buying an additional 50,893 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in shares of MercadoLibre by 0.4% during the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after buying an additional 1,833 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

MercadoLibre Trading Up 0.0%

Shares of NASDAQ:MELI opened at $1,695.65 on Friday. The stock has a market capitalization of $85.96 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 1.04 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock’s 50-day simple moving average is $1,719.52 and its two-hundred day simple moving average is $1,902.46. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Scotiabank dropped their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. BTIG Research dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and dropped their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Finally, Wedbush dropped their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.