Roxbury Financial LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 451 shares of the company’s stock, valued at approximately $766,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $206,000. Empowered Funds LLC grew its holdings in shares of MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth grew its holdings in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC acquired a new stake in MercadoLibre during the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL increased its position in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MELI. Benchmark decreased their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citigroup raised their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.
MercadoLibre Price Performance
Shares of MELI opened at $1,877.95 on Monday. The firm has a market cap of $95.21 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company’s 50-day moving average price is $1,728.64 and its 200 day moving average price is $1,802.56. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion during 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 company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the company earned $9.74 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current year.
Insider Activity
In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
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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