Entropy Technologies LP Acquires 3,032 Shares of MercadoLibre, Inc. $MELI

Entropy Technologies LP grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 64.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,760 shares of the company’s stock after acquiring an additional 3,032 shares during the period. Entropy Technologies LP’s holdings in MercadoLibre were worth $13,417,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the 4th 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 bought a new stake in shares of MercadoLibre during the second quarter valued at about $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth about $30,000. 87.62% of the stock is owned by institutional investors.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. 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. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. One 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. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

Get Our Latest Research Report on MELI

MercadoLibre Stock Up 0.2%

Shares of NASDAQ MELI opened at $1,801.44 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average of $1,705.94 and a 200-day moving average of $1,815.81. The firm has a market capitalization of $91.33 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

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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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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