Meitav Investment House Ltd. Buys 1,630 Shares of MercadoLibre, Inc. $MELI

Meitav Investment House Ltd. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 146.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,742 shares of the company’s stock after purchasing an additional 1,630 shares during the quarter. Meitav Investment House Ltd.’s holdings in MercadoLibre were worth $6,408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in MercadoLibre by 26.3% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after buying an additional 5 shares during the last quarter. Quadcap Wealth Management LLC increased its position in shares of MercadoLibre by 4.2% in the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after acquiring an additional 5 shares during the period. PFW Advisors LLC raised its stake in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after acquiring an additional 5 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of MercadoLibre by 3.5% during the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares during the period. Finally, Natural Investments LLC grew its stake in shares of MercadoLibre by 0.5% in the third quarter. Natural Investments LLC now owns 1,119 shares of the company’s stock worth $2,613,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MELI. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Thursday, December 4th. Wedbush cut their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research note on Friday, December 19th. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Morgan Stanley raised their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,842.94.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,075.01 on Friday. The firm has a market cap of $105.20 billion, a P/E ratio of 50.63, a PEG ratio of 1.03 and a beta of 1.42. MercadoLibre, Inc. has a twelve month low of $1,723.90 and a twelve month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $2,049.41 and a 200 day moving average of $2,237.17.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the business posted $7.83 EPS. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.