RWC Asset Advisors US LLC Reduces Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

RWC Asset Advisors US LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 54.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,555 shares of the company’s stock after selling 25,256 shares during the quarter. MercadoLibre accounts for about 7.3% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 6th biggest holding. RWC Asset Advisors US LLC’s holdings in MercadoLibre were worth $36,653,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MELI. Waverton Investment Management Ltd increased its position in shares of MercadoLibre by 1.1% during the fourth quarter. Waverton Investment Management Ltd now owns 21,358 shares of the company’s stock valued at $36,334,000 after acquiring an additional 222 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in MercadoLibre by 79.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 4,892 shares of the company’s stock valued at $8,319,000 after purchasing an additional 2,164 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of MercadoLibre in the 4th quarter worth $1,493,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of MercadoLibre by 7.0% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 10,660 shares of the company’s stock worth $18,127,000 after purchasing an additional 700 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its holdings in shares of MercadoLibre by 88.9% during the fourth quarter. Ascent Wealth Partners LLC now owns 2,189 shares of the company’s stock valued at $3,722,000 after purchasing an additional 1,030 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Barclays raised their target price on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $2,364.06.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 7.1 %

NASDAQ MELI opened at $2,260.00 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $114.58 billion, a P/E ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The stock’s 50-day moving average price is $1,867.29 and its 200-day moving average price is $1,958.01.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.