Gemsstock Ltd. Buys New Position in MercadoLibre, Inc. $MELI

Gemsstock Ltd. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, Holdings Channel.com reports. The fund bought 8,500 shares of the company’s stock, valued at approximately $17,121,000. MercadoLibre accounts for approximately 2.5% of Gemsstock Ltd.’s holdings, making the stock its 16th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC raised its stake in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. Weitz Investment Management Inc. purchased a new stake in MercadoLibre in the third quarter valued at approximately $8,647,000. TIAA Trust National Association raised its stake in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC raised its stake in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Integrated Financial Solutions Inc. raised its stake in shares of MercadoLibre by 129.7% during the fourth quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock worth $4,248,000 after acquiring an additional 1,191 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of several research reports. UBS Group decreased 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 note on Wednesday, May 13th. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 1.3%

Shares of MercadoLibre stock opened at $1,589.60 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The stock has a market capitalization of $80.59 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 0.99 and a beta of 1.36. The company’s 50 day moving average price is $1,715.68 and its 200-day moving average price is $1,873.83.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the business posted $9.74 EPS. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.

About MercadoLibre

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.