MercadoLibre, Inc. $MELI Shares Sold by Clearbridge Investments LLC

by · The Cerbat Gem

Clearbridge Investments LLC lessened its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 17.8% in the 4th quarter, Holdings Channel reports. The fund owned 121,831 shares of the company’s stock after selling 26,350 shares during the period. Clearbridge Investments LLC’s holdings in MercadoLibre were worth $245,399,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $26,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter worth $29,000. Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $30,000. Holos Integrated Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth $32,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MercadoLibre in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MELI shares. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Finally, Wedbush reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

Check Out Our Latest Stock Analysis on MercadoLibre

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost 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 $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,607.80 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $1,720.81 and a two-hundred day moving average price of $1,887.84. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a market capitalization of $81.52 billion, a P/E ratio of 42.43, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its earnings results 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 net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the business posted $9.74 earnings per share. The business’s revenue was up 49.0% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

MercadoLibre Profile

(Free Report)

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.

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