RWC Asset Management LLP Lowers Holdings in MercadoLibre, Inc. $MELI

by · The Cerbat Gem

RWC Asset Management LLP reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 11.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,463 shares of the company’s stock after selling 1,365 shares during the period. MercadoLibre comprises about 1.2% of RWC Asset Management LLP’s investment portfolio, making the stock its 22nd largest holding. RWC Asset Management LLP’s holdings in MercadoLibre were worth $24,451,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Benchmark cut their price objective 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 upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Citigroup cut their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Finally, Barclays boosted their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

Get Our Latest Stock Analysis on MercadoLibre

Insider Buying and Selling at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre 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. In the last quarter, insiders have sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is owned by corporate insiders.

MercadoLibre Trading Down 1.3%

MercadoLibre stock opened at $2,149.90 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock has a market cap of $109.00 billion, a PE ratio of 52.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.42. The stock has a 50-day moving average of $2,059.31 and a two-hundred day moving average of $2,248.18. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings data 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 company 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 business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the company earned $7.83 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company Profile

(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.

See Also

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