Sargent Investment Group LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 456 shares of the company’s stock, valued at approximately $919,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC boosted its stake in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares during the period. Weitz Investment Management Inc. acquired a new position in MercadoLibre in the third quarter valued at approximately $8,647,000. TIAA Trust National Association boosted its stake in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC boosted its stake in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Integrated Financial Solutions Inc. boosted its stake in MercadoLibre by 129.7% in the fourth quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock valued at $4,248,000 after acquiring an additional 1,191 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have commented on MELI. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.
MercadoLibre Stock Performance
Shares of NASDAQ MELI opened at $1,589.60 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $1,715.68 and a 200-day simple moving average of $1,872.88. The company has a market cap of $80.59 billion, a PE ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.74 earnings per share. On average, equities research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.
Insider Activity
In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
MercadoLibre Company 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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