Harvest Fund Management Co. Ltd Boosts Holdings in MercadoLibre, Inc. $MELI

Harvest Fund Management Co. Ltd grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,785 shares of the company’s stock after purchasing an additional 674 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in MercadoLibre were worth $7,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Curio Wealth LLC bought a new position in MercadoLibre during the fourth quarter worth about $30,000. Vise Technologies Inc. boosted its position in MercadoLibre by 30.9% during the fourth quarter. Vise Technologies Inc. now owns 419 shares of the company’s stock worth $844,000 after purchasing an additional 99 shares during the period. Ted Buchan & Co boosted its position in MercadoLibre by 5.6% during the fourth quarter. Ted Buchan & Co now owns 1,183 shares of the company’s stock worth $2,383,000 after purchasing an additional 63 shares during the period. Verus Capital Partners LLC boosted its position in MercadoLibre by 25.0% during the fourth quarter. Verus Capital Partners LLC now owns 130 shares of the company’s stock worth $262,000 after purchasing an additional 26 shares during the period. Finally, Intellectus Partners LLC bought a new position in MercadoLibre during the fourth quarter worth about $552,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MELI shares. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday. Morgan Stanley cut their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Trading Down 0.2%

Shares of MercadoLibre stock opened at $1,634.78 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm has a market cap of $82.88 billion, a PE ratio of 43.15, a PEG ratio of 1.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a 50 day simple moving average of $1,721.45 and a two-hundred day simple moving average of $1,889.82.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

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.