Candriam S.C.A. Has $33.56 Million Stock Holdings in MercadoLibre, Inc. $MELI

Candriam S.C.A. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 479.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 19,412 shares of the company’s stock after acquiring an additional 16,063 shares during the quarter. Candriam S.C.A.’s holdings in MercadoLibre were worth $33,564,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bison Wealth LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at about $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth raised its stake in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in MercadoLibre in the 2nd quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL boosted its holdings in MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on MELI shares. Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. UBS Group lowered their price objective on 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. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Trading Up 2.5%

NASDAQ:MELI traded up $44.39 during trading hours on Friday, hitting $1,852.22. 406,269 shares of the company were exchanged, compared to its average volume of 405,449. The stock has a market capitalization of $93.91 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a fifty day simple moving average of $1,675.89 and a 200 day simple moving average of $1,827.82. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

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

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated 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 transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.