GKV Capital Management Co. Inc. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 384 shares of the company’s stock, valued at approximately $664,000.
A number of other hedge funds also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $30,000. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Trading Down 0.4%
MELI stock opened at $1,877.95 on Friday. The firm has a fifty day moving average price of $1,728.64 and a 200 day moving average price of $1,804.99. 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 debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a market cap of $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.35.
Insider Activity at MercadoLibre
In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were purchased 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. 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 report on Tuesday, April 21st. UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.
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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