Dala Group LLC Has $2.37 Million Stock Holdings in MercadoLibre, Inc. $MELI

Dala Group LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,394 shares of the company’s stock after selling 306 shares during the quarter. MercadoLibre comprises approximately 1.9% of Dala Group LLC’s investment portfolio, making the stock its 9th largest holding. Dala Group LLC’s holdings in MercadoLibre were worth $2,366,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital International Investors boosted its holdings in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. BlackRock Inc. acquired a new stake in MercadoLibre during the 2nd quarter valued at approximately $2,246,015,000. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of 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 target price on the stock. in a report on Friday, May 8th. Finally, UBS Group cut their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,779.14 on Wednesday. The business has a 50-day simple moving average of $1,773.74 and a 200 day simple moving average of $1,778.68. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $90.20 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the company earned $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Company 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.