Genesis Investment Management LLP Sells 15,491 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Posted by Defense World Staff on Apr 2nd, 2023

Genesis Investment Management LLP trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 10.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 132,286 shares of the company’s stock after selling 15,491 shares during the period. MercadoLibre makes up approximately 12.5% of Genesis Investment Management LLP’s investment portfolio, making the stock its 2nd largest position. Genesis Investment Management LLP owned about 0.26% of MercadoLibre worth $111,946,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Pendal Group Ltd grew its stake in MercadoLibre by 22.8% during the fourth quarter. Pendal Group Ltd now owns 9,649 shares of the company’s stock worth $8,165,000 after buying an additional 1,789 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $146,000. Evermay Wealth Management LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $199,000. LVW Advisors LLC grew its stake in MercadoLibre by 6.8% during the fourth quarter. LVW Advisors LLC now owns 469 shares of the company’s stock worth $397,000 after buying an additional 30 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in MercadoLibre during the fourth quarter worth about $2,666,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 4.0 %

Shares of NASDAQ MELI opened at $1,318.06 on Friday. The company has a 50 day simple moving average of $1,181.35 and a 200 day simple moving average of $998.93. The firm has a market cap of $66.24 billion, a PE ratio of 138.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.59. MercadoLibre, Inc. has a 1 year low of $600.68 and a 1 year high of $1,325.67. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $1.14. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.96 billion. MercadoLibre had a net margin of 4.57% and a return on equity of 29.09%. The firm’s quarterly revenue was up 40.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.92) EPS. On average, research analysts forecast that MercadoLibre, Inc. will post 14.97 EPS for the current year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the completion of the transaction, the director now owns 115 shares in the company, valued at approximately $144,440. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of MercadoLibre from $1,620.00 to $1,770.00 in a report on Friday. StockNews.com initiated coverage on shares of MercadoLibre in a report on Thursday, March 16th. They issued a “hold” rating for the company. Barclays increased their target price on shares of MercadoLibre from $1,250.00 to $1,475.00 and gave the stock an “overweight” rating in a report on Friday, February 24th. Credit Suisse Group increased their target price on shares of MercadoLibre from $1,450.00 to $1,685.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Finally, TheStreet raised shares of MercadoLibre from a “c” rating to a “b-” rating in a report on Wednesday, February 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $1,356.67.

MercadoLibre Company Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.