First Trust Advisors LP boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 1.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 22,656 shares of the company’s stock after purchasing an additional 433 shares during the quarter. First Trust Advisors LP’s holdings in MercadoLibre were worth $39,173,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the 4th quarter worth $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter worth $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Trading Up 1.0%
Shares of MercadoLibre stock opened at $1,819.74 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a market capitalization of $92.26 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company’s fifty day moving average price is $1,710.62 and its two-hundred day moving average price is $1,810.88.
Analysts Set New Price Targets
A number of research analysts have recently commented on MELI shares. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. UBS Group cut their price target 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, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.
View Our Latest Report on MercadoLibre
Insider Transactions at MercadoLibre
In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price 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 approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.
About MercadoLibre
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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