Legal & General Group Plc Grows Holdings in Mercadolibre Inc (NASDAQ:MELI)

Legal & General Group Plc grew its stake in Mercadolibre Inc (NASDAQ:MELI) by 11.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 159,506 shares of the company’s stock after acquiring an additional 16,973 shares during the period. Legal & General Group Plc owned about 0.35% of Mercadolibre worth $46,711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MELI. Bank of New York Mellon Corp raised its stake in Mercadolibre by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,988 shares of the company’s stock worth $13,747,000 after buying an additional 653 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Mercadolibre by 7.2% in the third quarter. Commonwealth Equity Services LLC now owns 2,528 shares of the company’s stock worth $861,000 after purchasing an additional 169 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Mercadolibre by 8.2% in the third quarter. SG Americas Securities LLC now owns 6,559 shares of the company’s stock worth $2,233,000 after purchasing an additional 499 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Mercadolibre by 4.0% in the third quarter. PNC Financial Services Group Inc. now owns 22,000 shares of the company’s stock worth $7,490,000 after purchasing an additional 851 shares during the last quarter. Finally, FIL Ltd raised its stake in shares of Mercadolibre by 5.8% in the third quarter. FIL Ltd now owns 36,876 shares of the company’s stock worth $12,555,000 after purchasing an additional 2,024 shares during the last quarter. 91.12% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Emiliano Calemzuk acquired 120 shares of Mercadolibre stock in a transaction on Saturday, March 9th. The stock was acquired at an average cost of $414.14 per share, with a total value of $49,696.80. Following the completion of the acquisition, the director now owns 2,669 shares in the company, valued at $1,105,339.66. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is currently owned by corporate insiders.

Several analysts have recently commented on MELI shares. Credit Suisse Group increased their price objective on Mercadolibre from $398.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 27th. Barclays reissued a “buy” rating and issued a $445.00 price objective on shares of Mercadolibre in a research note on Thursday, February 28th. BidaskClub raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 6th. Bank of America reissued a “buy” rating and issued a $600.00 price objective on shares of Mercadolibre in a research note on Wednesday, April 3rd. Finally, Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “strong sell” rating in a report on Monday, February 4th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mercadolibre currently has an average rating of “Hold” and a consensus price target of $449.83.

Shares of MELI stock traded down $6.38 during trading on Friday, hitting $492.00. The company’s stock had a trading volume of 663,587 shares, compared to its average volume of 497,357. The firm has a market cap of $22.24 billion, a PE ratio of -600.00 and a beta of 2.22. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 1.79. Mercadolibre Inc has a 52 week low of $257.52 and a 52 week high of $527.09.

Mercadolibre (NASDAQ:MELI) last released its earnings results on Tuesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.13. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The company had revenue of $428.00 million during the quarter, compared to analyst estimates of $400.80 million. During the same period in the prior year, the company posted ($1.53) earnings per share. Mercadolibre’s quarterly revenue was up 19.5% on a year-over-year basis. On average, research analysts expect that Mercadolibre Inc will post 0.4 earnings per share for the current year.

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Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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