Lido Advisors LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 37.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,561 shares of the company’s stock after selling 1,547 shares during the quarter. Lido Advisors LLC’s holdings in MercadoLibre were worth $4,430,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MELI. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the 4th quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the 4th quarter worth about $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on MELI shares. UBS Group lowered their price objective 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. Citigroup lifted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.
MercadoLibre Price Performance
MELI opened at $1,801.44 on Friday. The company’s 50 day simple moving average is $1,705.94 and its 200 day simple moving average is $1,815.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock has a market capitalization of $91.33 billion, a PE ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share 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 return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the prior year, the business earned $9.74 EPS. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.
Insider Activity at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s 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 acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently 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.
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