Franklin Resources Inc. Trims Stake in MercadoLibre, Inc. $MELI

Franklin Resources Inc. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,619 shares of the company’s stock after selling 37,383 shares during the period. Franklin Resources Inc.’s holdings in MercadoLibre were worth $766,666,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MELI. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $29,000. Curio Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $30,000. Holos Integrated Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $32,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre during the 3rd quarter worth $35,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,607.80 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $81.52 billion, a PE ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36. The firm has a fifty day simple moving average of $1,720.81 and a two-hundred day simple moving average of $1,886.65. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on MELI shares. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Wedbush dropped their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.