MONECO Advisors LLC Takes Position in MercadoLibre, Inc. $MELI

MONECO Advisors LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 434 shares of the company’s stock, valued at approximately $1,014,000.

Other large investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre during the 3rd quarter worth $35,000. Cullen Frost Bankers Inc. raised its position in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the last quarter. Curio Wealth LLC lifted its stake in shares of MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after purchasing an additional 14 shares during the period. Finally, Stone House Investment Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $39,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In other news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Finally, Wedbush lowered their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Stock Performance

Shares of MELI opened at $1,970.15 on Friday. The stock has a market capitalization of $99.89 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 1.01 and a beta of 1.44. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22. The firm has a fifty day simple moving average of $2,074.84 and a 200 day simple moving average of $2,206.74. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

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.