Maridea Wealth Management LLC Grows Holdings in MercadoLibre, Inc. $MELI

Maridea Wealth Management LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 72.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 784 shares of the company’s stock after buying an additional 329 shares during the period. Maridea Wealth Management LLC’s holdings in MercadoLibre were worth $1,578,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tuttle Capital Management LLC boosted its holdings in MercadoLibre by 5.7% in the fourth quarter. Tuttle Capital Management LLC now owns 276 shares of the company’s stock valued at $556,000 after purchasing an additional 15 shares during the last quarter. Nordea Investment Management AB increased its holdings in MercadoLibre by 4.2% during the 4th quarter. Nordea Investment Management AB now owns 109,176 shares of the company’s stock worth $219,965,000 after purchasing an additional 4,355 shares during the last quarter. Procyon Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $2,266,000. Harbour Capital Advisors LLC raised its position in shares of MercadoLibre by 0.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 1,290 shares of the company’s stock valued at $2,546,000 after purchasing an additional 9 shares in the last quarter. Finally, Aventura Private Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $161,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Cantor Fitzgerald dropped their target price 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. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,708.67.

MercadoLibre Stock Down 1.9%

MELI stock opened at $1,635.76 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1-year low of $1,631.18 and a 1-year high of $2,645.22. The firm has a fifty day moving average price of $1,948.16 and a two-hundred day moving average price of $2,091.22. The firm has a market cap of $82.93 billion, a price-to-earnings ratio of 41.52, a PEG ratio of 0.80 and a beta of 1.48.

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

MercadoLibre Company 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.