RWC Asset Management LLP Sells 9,191 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

RWC Asset Management LLP reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 43.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,141 shares of the company’s stock after selling 9,191 shares during the period. RWC Asset Management LLP’s holdings in MercadoLibre were worth $20,645,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MELI. Swedbank AB grew its holdings in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the period. Greenleaf Trust bought a new position in shares of MercadoLibre during the 3rd quarter worth $271,000. Tectonic Advisors LLC increased its holdings in MercadoLibre by 30.4% in the 3rd quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock worth $334,000 after acquiring an additional 38 shares during the last quarter. Lake Street Advisors Group LLC purchased a new stake in MercadoLibre in the 3rd quarter worth about $427,000. Finally, Allworth Financial LP lifted its holdings in MercadoLibre by 21.1% during the third quarter. Allworth Financial LP now owns 339 shares of the company’s stock valued at $696,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,260.00 on Monday. The business’s 50-day moving average price is $1,867.29 and its 200-day moving average price is $1,958.01. The firm has a market capitalization of $114.58 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MELI shares. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Bank of America increased their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Finally, BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.