MercadoLibre, Inc. $MELI Shares Sold by Infusive Asset Management Inc.

Infusive Asset Management Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 50.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,415 shares of the company’s stock after selling 1,429 shares during the period. MercadoLibre accounts for approximately 1.2% of Infusive Asset Management Inc.’s holdings, making the stock its 29th biggest position. Infusive Asset Management Inc.’s holdings in MercadoLibre were worth $2,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Spear Holdings RSC Ltd boosted its stake in shares of MercadoLibre by 136.9% during the 1st quarter. Spear Holdings RSC Ltd now owns 38,688 shares of the company’s stock worth $66,892,000 after acquiring an additional 22,360 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of MercadoLibre by 34.0% in the 1st quarter. Bank of Nova Scotia now owns 23,351 shares of the company’s stock worth $40,381,000 after acquiring an additional 5,922 shares during the last quarter. PBCay One RSC Ltd raised its position in shares of MercadoLibre by 136.9% during the first quarter. PBCay One RSC Ltd now owns 38,692 shares of the company’s stock worth $66,899,000 after purchasing an additional 22,359 shares during the period. Sei Investments Co. raised its position in shares of MercadoLibre by 20.1% during the first quarter. Sei Investments Co. now owns 126,189 shares of the company’s stock worth $218,184,000 after purchasing an additional 21,130 shares during the period. Finally, Sycale Advisors NY LLC raised its position in shares of MercadoLibre by 16.3% during the first quarter. Sycale Advisors NY LLC now owns 7,921 shares of the company’s stock worth $13,696,000 after purchasing an additional 1,112 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on 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. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

MercadoLibre Trading Down 0.0%

Shares of NASDAQ:MELI opened at $1,798.70 on Friday. The firm has a fifty day moving average of $1,700.85 and a two-hundred day moving average of $1,815.91. 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 firm has a market capitalization of $91.19 billion, a P/E ratio of 47.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the company posted $9.74 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

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.