MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lowered by RWC Asset Management LLP

RWC Asset Management LLP lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 43.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,141 shares of the company's stock after selling 9,191 shares during the quarter. RWC Asset Management LLP's holdings in MercadoLibre were worth $20,645,000 at the end of the most recent quarter.

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

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $36.65 on Monday, hitting $2,223.35. The company's stock had a trading volume of 513,850 shares, compared to its average volume of 375,438. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock's 50-day moving average is $1,867.29 and its two-hundred day moving average is $1,958.01. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $112.72 billion, a price-to-earnings ratio of 58.97, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business's 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 sale, the director now owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday. BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research report on Thursday, November 7th. Wedbush cut their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Finally, Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $2,364.06.

About MercadoLibre

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.