Pasadena Private Wealth LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 549 shares of the company’s stock, valued at approximately $1,106,000.
Several other institutional investors have also recently modified their holdings of the company. Inspire Trust Co. N.A. bought a new position in shares of MercadoLibre during the 4th quarter valued at about $1,813,000. Intech Investment Management LLC increased its position in shares of MercadoLibre by 0.5% during the 4th quarter. Intech Investment Management LLC now owns 2,309 shares of the company’s stock valued at $4,651,000 after purchasing an additional 11 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of MercadoLibre by 25.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 205 shares of the company’s stock valued at $412,000 after purchasing an additional 41 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of MercadoLibre by 3.8% during the 4th quarter. Kingsview Wealth Management LLC now owns 552 shares of the company’s stock valued at $1,112,000 after purchasing an additional 20 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its holdings in MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after acquiring an additional 6,200 shares during the period. 87.62% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MELI has been the subject of several analyst reports. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and dropped their target price for the company from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. UBS Group dropped their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.
Insider Transactions at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.
MercadoLibre Stock Down 0.0%
Shares of NASDAQ:MELI opened at $1,695.53 on Friday. The stock has a fifty day simple moving average of $1,719.41 and a two-hundred day simple moving average of $1,903.92. The stock has a market capitalization of $85.96 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 1.04 and a beta of 1.41. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.
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.
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