Plato Investment Management Ltd bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 759 shares of the company’s stock, valued at approximately $1,281,000.
Other hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its position in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares in the last quarter. TIAA Trust National Association raised its stake in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC raised its stake in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, PKO Investment Management Joint Stock Co lifted its position in shares of MercadoLibre by 28.0% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 3,200 shares of the company’s stock worth $6,446,000 after purchasing an additional 700 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Trading Down 3.1%
NASDAQ:MELI opened at $1,787.57 on Tuesday. The stock has a market cap of $90.63 billion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The business has a fifty day moving average of $1,770.98 and a 200-day moving average of $1,782.12.
Wall Street Analysts Forecast Growth
MELI has been the subject of a number of recent analyst reports. Scotiabank lowered 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 report on Thursday, May 7th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Finally, Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.
Insider Buying and Selling
In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on 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 purchase, the director owned 5,355 shares in the company, 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 document filed with the SEC, which is available through 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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