MercadoLibre, Inc. $MELI Holdings Boosted by Whittier Trust Co.

by · The Cerbat Gem

Whittier Trust Co. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 10.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,419 shares of the company’s stock after acquiring an additional 236 shares during the quarter. Whittier Trust Co.’s holdings in MercadoLibre were worth $5,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Lavaca Capital LLC boosted its position in MercadoLibre by 140,201.3% during the 2nd quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Norges Bank bought a new stake in MercadoLibre in the second quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of MercadoLibre by 304.7% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after acquiring an additional 192,071 shares during the period. Durable Capital Partners LP grew its position in shares of MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after acquiring an additional 90,026 shares during the last quarter. 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 worth $3,228,460,000 after acquiring an additional 81,124 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction that occurred 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 completion of the transaction, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Benchmark cut their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Finally, Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,842.94.

View Our Latest Research Report on MercadoLibre

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,137.29 on Monday. The stock has a market cap of $108.36 billion, a price-to-earnings ratio of 52.15, a PEG ratio of 1.06 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The stock’s 50 day moving average price is $2,051.07 and its 200 day moving average price is $2,221.36.

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

About MercadoLibre

(Free Report)

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.

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