Norinchukin Bank The cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 37.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 419 shares of the company’s stock after selling 252 shares during the quarter. Norinchukin Bank The’s holdings in MercadoLibre were worth $565,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. increased its position in shares of MercadoLibre by 30.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock valued at $7,361,000 after purchasing an additional 3,392 shares during the last quarter. Commerce Bank boosted its position in shares of MercadoLibre by 15.2% during the 3rd quarter. Commerce Bank now owns 227 shares of the company’s stock valued at $381,000 after acquiring an additional 30 shares during the last quarter. Alliancebernstein L.P. lifted its position in MercadoLibre by 5.3% in the 3rd quarter. Alliancebernstein L.P. now owns 54,543 shares of the company’s stock worth $91,600,000 after buying an additional 2,735 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in MercadoLibre by 200.0% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 108 shares of the company’s stock worth $181,000 after buying an additional 72 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in MercadoLibre by 4.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 47,295 shares of the company’s stock worth $79,427,000 after purchasing an additional 2,204 shares during the period. 79.61% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on MELI. TheStreet raised MercadoLibre from a “d+” rating to a “c-” rating in a research note on Friday, May 6th. Zacks Investment Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating and set a $956.00 price target on the stock. in a report on Wednesday, March 2nd. Susquehanna lowered their price target on MercadoLibre from $1,990.00 to $1,750.00 and set a “positive” rating on the stock in a report on Wednesday, February 23rd. Bradesco Corretora upgraded MercadoLibre from a “neutral” rating to an “outperform” rating in a research report on Friday, February 25th. Finally, BTIG Research reduced their price objective on MercadoLibre from $1,930.00 to $1,550.00 in a research report on Tuesday, January 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Buy” and a consensus target price of $1,670.50.
MercadoLibre (NASDAQ:MELI – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.34). The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.06 billion. MercadoLibre had a return on equity of 21.93% and a net margin of 2.30%. The firm’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 6.79 earnings per share for the current fiscal year.
In other MercadoLibre news, Director Emiliano Calemzuk sold 75 shares of the firm’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $1,008.61, for a total transaction of $75,645.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Marcelo Melamud bought 55 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were acquired at an average price of $881.82 per share, with a total value of $48,500.10. The disclosure for this purchase can be found here. Insiders purchased 205 shares of company stock worth $188,950 in the last three months. 0.39% of the stock is currently owned by corporate insiders.
About MercadoLibre (Get Rating)
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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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