Coronation Fund Managers Ltd. Buys 16,019 Shares of MercadoLibre, Inc. $MELI

Coronation Fund Managers Ltd. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,804 shares of the company’s stock after buying an additional 16,019 shares during the quarter. MercadoLibre accounts for 12.4% of Coronation Fund Managers Ltd.’s portfolio, making the stock its largest position. Coronation Fund Managers Ltd. owned about 0.31% of MercadoLibre worth $272,846,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Capital Research Global Investors boosted its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors grew its position in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 26.4% during the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after purchasing an additional 126,294 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a report on Friday, May 8th. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Citigroup lifted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

MercadoLibre Trading Down 1.3%

MercadoLibre stock opened at $1,799.21 on Thursday. The company’s fifty day simple moving average is $1,697.03 and its 200-day simple moving average is $1,817.14. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock has a market cap of $91.22 billion, a P/E ratio of 47.49, a P/E/G ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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). The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.During the same quarter in the prior year, the business posted $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate 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.