Meeder Advisory Services Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 911 shares of the company’s stock, valued at approximately $1,545,000.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in MercadoLibre in the 2nd quarter valued at $2,246,015,000. Capital Research Global Investors lifted its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Norges Bank bought a new position in shares of MercadoLibre during the 4th quarter valued at about $597,045,000. Royal Bank of Canada boosted its holdings in shares of MercadoLibre by 114.2% during the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock valued at $768,728,000 after purchasing an additional 237,008 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after purchasing an additional 202,322 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.
MercadoLibre Stock Up 7.3%
Shares of NASDAQ:MELI opened at $1,908.65 on Thursday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a 50-day moving average price of $1,780.15 and a 200 day moving average price of $1,776.50. The company has a market cap of $96.77 billion, a price-to-earnings ratio of 51.91, a PEG ratio of 1.22 and a beta of 1.34.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on MELI. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, 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. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.
Get Our Latest Stock Report on MELI
Insider Activity at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade 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 at this hyperlink. Company 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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