Venture Visionary Partners LLC Grows Stake in MercadoLibre, Inc. $MELI

by · The Cerbat Gem

Venture Visionary Partners LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 20.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,329 shares of the company’s stock after buying an additional 392 shares during the quarter. Venture Visionary Partners LLC’s holdings in MercadoLibre were worth $5,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Jackson Wealth Management LLC purchased a new position in MercadoLibre during the second quarter valued at approximately $499,000. Highview Capital Management LLC DE purchased a new stake in MercadoLibre during the second quarter worth $559,000. Ninety One North America Inc. boosted its position in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wedbush upped their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Benchmark lowered their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Finally, UBS Group lowered their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

Read Our Latest Research Report on MercadoLibre

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The SEC filing for this sale provides additional information. Insiders have sold 1,136 shares of company stock valued at $2,308,788 in the last ninety days. 0.25% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Down 2.4%

MercadoLibre stock opened at $1,966.76 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm has a market cap of $99.71 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. The business’s 50-day moving average price is $2,117.39 and its 200 day moving average price is $2,309.16. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the firm earned $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

(Free Report)

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.

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