Ritholtz Wealth Management lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 80.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 966 shares of the company’s stock after purchasing an additional 430 shares during the quarter. Ritholtz Wealth Management’s holdings in MercadoLibre were worth $1,670,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
MercadoLibre Stock Performance
Shares of MercadoLibre stock opened at $1,675.10 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The firm’s 50 day moving average is $1,687.25 and its two-hundred day moving average is $1,843.28. The firm has a market capitalization of $84.93 billion, a P/E ratio of 44.21, a P/E/G ratio of 1.03 and a beta of 1.36.
Insiders Place Their Bets
In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was bought 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 directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
MELI has been the subject of a number of recent research reports. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a report on Friday, May 8th. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.
Check Out Our Latest Stock Analysis on MercadoLibre
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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