Patriot Financial Group Insurance Agency LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 220.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 506 shares of the company’s stock after purchasing an additional 348 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in MercadoLibre were worth $875,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in MELI. Interchange Capital Partners LLC lifted its position in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after acquiring an additional 5 shares in the last quarter. Mitchell Capital Management Co. boosted its position in MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares during the last quarter. Strategic Advisors LLC boosted its position in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Price Performance
Shares of NASDAQ:MELI opened at $1,697.39 on Wednesday. The stock has a market capitalization of $86.06 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.04 and a beta of 1.36. The business has a 50-day moving average of $1,681.30 and a two-hundred day moving average of $1,836.87. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.
Insider Buying and Selling
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 bought 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 in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research analysts have weighed in on MELI shares. Cantor Fitzgerald dropped their target price on 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. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Benchmark reduced their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.
Read Our Latest Report on MELI
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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