MidFirst Bank bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 602 shares of the company’s stock, valued at approximately $1,213,000.
Several other hedge funds also recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC increased its holdings in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after buying an additional 1,430 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Weitz Investment Management Inc. bought a new stake in MercadoLibre during the 3rd quarter worth $8,647,000. TIAA Trust National Association grew its position in MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Deepwater Asset Management LLC increased its holdings in MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares in the last quarter. 87.62% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have commented on MELI. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Finally, Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.
MercadoLibre Stock Performance
Shares of MELI stock opened at $1,635.15 on Friday. The stock has a market cap of $82.90 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.01 and a beta of 1.36. The stock has a 50-day moving average of $1,706.94 and a 200-day moving average of $1,859.91. 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, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.
MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the firm earned $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. On average, equities research analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.
Insider Transactions at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.
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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