Spear Holdings RSC Ltd increased its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 136.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 38,688 shares of the company’s stock after buying an additional 22,360 shares during the quarter. MercadoLibre comprises 6.7% of Spear Holdings RSC Ltd’s holdings, making the stock its 8th largest position. Spear Holdings RSC Ltd’s holdings in MercadoLibre were worth $66,892,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the fourth quarter worth $28,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $30,000. 87.62% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.
MercadoLibre Price Performance
Shares of NASDAQ MELI opened at $1,798.70 on Friday. The stock has a market cap of $91.19 billion, a P/E ratio of 47.47, a P/E/G ratio of 1.11 and a beta of 1.35. The firm’s 50-day simple moving average is $1,700.85 and its 200 day simple moving average is $1,815.91. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. 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 (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business posted $9.74 earnings per share. Equities analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.
Insider Transactions at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin purchased 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, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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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