Parallel Advisors LLC Increases Stock Position in MercadoLibre, Inc. $MELI

Parallel Advisors LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 98.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,056 shares of the company’s stock after purchasing an additional 524 shares during the period. Parallel Advisors LLC’s holdings in MercadoLibre were worth $2,468,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MELI. Riggs Asset Managment Co. Inc. increased its stake in MercadoLibre by 0.7% during the third quarter. Riggs Asset Managment Co. Inc. now owns 1,495 shares of the company’s stock worth $3,494,000 after acquiring an additional 10 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of MercadoLibre by 42.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 287 shares of the company’s stock valued at $671,000 after purchasing an additional 85 shares in the last quarter. Black Swift Group LLC acquired a new position in shares of MercadoLibre in the 3rd quarter valued at about $7,957,000. Natixis Advisors LLC grew its holdings in shares of MercadoLibre by 2.6% during the 3rd quarter. Natixis Advisors LLC now owns 15,708 shares of the company’s stock worth $36,708,000 after purchasing an additional 400 shares during the period. Finally, Kemnay Advisory Services Inc. grew its holdings in shares of MercadoLibre by 59.9% during the 3rd quarter. Kemnay Advisory Services Inc. now owns 4,238 shares of the company’s stock worth $9,904,000 after purchasing an additional 1,588 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated 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 approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.25% of the company’s stock.

MercadoLibre Trading Down 1.0%

MELI opened at $1,769.52 on Tuesday. The firm’s 50 day moving average is $2,019.51 and its 200-day moving average is $2,135.12. MercadoLibre, Inc. has a 52-week low of $1,654.24 and a 52-week high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $89.71 billion, a P/E ratio of 44.91, a P/E/G ratio of 0.90 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s revenue for the quarter was up 44.6% compared to the same quarter last year. During the same quarter last year, the company posted $12.61 earnings per share. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on MELI. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Finally, Barclays decreased their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,762.00.

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.