Wealthfront Advisers LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 396 shares of the company’s stock, valued at approximately $685,000.
Other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the fourth quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre in the second quarter worth about $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Benchmark lowered 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 research note on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.
Insider Buying and Selling at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.
MercadoLibre Stock Down 1.3%
MELI opened at $1,799.21 on Thursday. The business’s fifty day simple moving average is $1,697.03 and its 200 day simple moving average is $1,817.14. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $91.22 billion, a PE ratio of 47.49, a P/E/G ratio of 1.12 and a beta of 1.35.
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period last year, the firm earned $9.74 EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.
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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