Plato Investment Management Ltd Buys New Position in MercadoLibre, Inc. $MELI

Plato Investment Management Ltd acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 759 shares of the company’s stock, valued at approximately $1,281,000.

Other hedge funds have also modified their holdings of the company. Capital Research Global Investors increased its holdings in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares during the period. Norges Bank acquired a new stake in MercadoLibre during the 4th quarter worth $597,045,000. Royal Bank of Canada grew its position in MercadoLibre by 114.2% during the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after purchasing an additional 237,008 shares during the last quarter. Marshall Wace LLP grew its position in MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after purchasing an additional 202,322 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 purchasing an additional 137,100 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MELI shares. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. 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 report on Friday, May 8th. Finally, Benchmark dropped their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost 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. The trade was a 12.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,787.57 on Tuesday. The company has a market cap of $90.63 billion, a P/E ratio of 48.61, a P/E/G ratio of 1.26 and a beta of 1.34. The firm’s 50 day moving average is $1,770.98 and its two-hundred day moving average is $1,782.12. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.31 EPS. Analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current 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.