Legato Capital Management LLC Has $5.34 Million Stake in MercadoLibre, Inc. $MELI

Legato Capital Management LLC trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,650 shares of the company’s stock after selling 330 shares during the period. Legato Capital Management LLC’s holdings in MercadoLibre were worth $5,338,000 at the end of the most recent quarter.

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

MercadoLibre Trading Down 0.8%

MELI opened at $1,664.42 on Friday. The company’s 50 day moving average is $1,721.55 and its 200-day moving average is $1,921.77. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a market cap of $84.39 billion, a P/E ratio of 43.93, a PEG ratio of 1.03 and a beta of 1.41.

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 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 during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business posted $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. Equities research analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. BTIG Research reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One equities research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.