Manning & Napier Advisors LLC Has $92.23 Million Stake in MercadoLibre, Inc. $MELI

Manning & Napier Advisors LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,339 shares of the company’s stock after selling 6,271 shares during the period. Manning & Napier Advisors LLC’s holdings in MercadoLibre were worth $92,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake 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 purchasing an additional 408,939 shares during the period. Capital International Investors lifted its stake 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 buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,246,015,000. Finally, Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $1,947.90 on Tuesday. The stock has a 50 day moving average of $1,799.08 and a 200 day moving average of $1,772.26. The company has a market capitalization of $98.75 billion, a price-to-earnings ratio of 52.98, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s revenue was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.31 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MELI. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Citigroup increased their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, UBS Group cut their target price on 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,272.00.

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.