MercadoLibre, Inc. $MELI Stock Holdings Increased by Private Advisor Group LLC

Private Advisor Group LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 57.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,147 shares of the company’s stock after buying an additional 1,510 shares during the quarter. Private Advisor Group LLC’s holdings in MercadoLibre were worth $7,170,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MELI. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre during the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter worth $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock traded down $3.81 during midday trading on Tuesday, hitting $1,801.87. The company’s stock had a trading volume of 52,109 shares, compared to its average volume of 559,472. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a market capitalization of $91.35 billion, a PE ratio of 47.57, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The stock’s 50-day moving average price is $1,674.97 and its 200-day moving average price is $1,831.70. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted 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). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter last year, the firm posted $9.74 EPS. Analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

MercadoLibre 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.