Institutional investor VELT Partners Investimentos Ltda. has reduced its position in e-commerce giant MercadoLibre by 18.3%, according to STA Research. The firm sold 7,555 shares during the fourth quarter, leaving it with 33,755 shares in the company, which represent 86.2% of its portfolio. Other institutional investors have also added or reduced their stakes in the company, with hedge funds and other investors owning 80.49% of MercadoLibre’s stock. The company’s stock traded at $1,267.18 during midday trading on Wednesday, down from its 52-week high of $1,329.49. MercadoLibre’s Q4 revenue of $3bn beat analyst estimates of $2.96bn, with the firm reporting EPS of $3.25, compared with the consensus of $2.11.
MELI Stock Growth
MercadoLibre, Inc., a Latin American e-commerce giant, has been the subject of several recent research reports, including Citigroup’s price target increase from $1,100.00 to $1,460.00 and BTIG Research’s price target increase from $1,245.00 to $1,400.00 with a “buy” rating. Despite this, VELT Partners an investor, has reduced its position in the company by 18.3% during the fourth quarter, according to the latest STA Research report. The company now owns 33,755 shares of MercadoLibre, down from 41,310 shares in the previous quarter, reducing the institutional investor’s stake in the company to 0.07%. MercadoLibre comprises 86.2% of VELT Partners portfolio, making the stock its biggest holding. Other institutional investors have also added to or reduced their stakes in the company, including Amalgamated Bank, Huntington National Bank, Atlas Capital Advisors LLC, Tsfg LLC, and CVA Family Office LLC. Hedge funds and other institutional investors now own 80.49% of the company’s stock.
MercadoLibre Inc. Stock Forecast
According to the analysis of 8 analysts, the average target price for MercadoLibre Inc. stock over the next 12 months is USD 1,400.00, and the average analyst rating is Strong Buy. Stock Target Advisor has also analyzed the stock and has given a Slightly Bullish rating based on 9 positive signals and 7 negative signals. As of the last closing, the stock price of MercadoLibre Inc. was USD 1,256.04, which has increased by +0.48% over the past week, +7.53% over the past month, and +12.55% over the last year.
Business Description
MercadoLibre Inc. is a Latin American company that operates online commerce platforms. Its MercadoLibre Marketplace platform enables businesses, merchants, and individuals to list and sell merchandise online, while Mercado Pago FinTech platform facilitates online transactions by allowing users to send and receive payments, as well as transfer money. The company also provides services like Mercado Fondo for investment, Mercado Credito for extending loans to merchants and consumers, and Mercado Envios for logistics solutions. Additionally, it offers MercadoLibre Classifieds for online classified listings, MercadoLibre Ads for advertising products and services, and Mercado Shops for digital store management. The company was founded in 1999 and is based in Montevideo, Uruguay.
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