The Manufacturers Life Insurance Company Trims Stock Position in MercadoLibre, Inc. $MELI

The Manufacturers Life Insurance Company lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,016 shares of the company’s stock after selling 664 shares during the period. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $32,860,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Interchange Capital Partners LLC grew its stake in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC lifted its holdings in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares during the period. Mitchell Capital Management Co. lifted its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after buying an additional 5 shares during the period. Strategic Advisors LLC grew its position in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock worth $2,564,000 after buying an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its stake in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after buying an additional 5 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 0.4%

MELI opened at $1,877.95 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. The firm has a market cap of $95.21 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock has a fifty day moving average price of $1,728.64 and a 200-day moving average price of $1,804.99.

MercadoLibre (NASDAQ:MELI) last issued 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 the consensus estimate of $8.29 billion. During the same period in the previous year, the business earned $9.74 EPS. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MELI shares. Benchmark decreased their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

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.