Elevation Point Wealth Partners LLC Acquires 1,359 Shares of MercadoLibre, Inc. $MELI

Elevation Point Wealth Partners LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 509.0% in the 1st quarter, HoldingsChannel reports. The firm owned 1,626 shares of the company’s stock after buying an additional 1,359 shares during the period. Elevation Point Wealth Partners LLC’s holdings in MercadoLibre were worth $2,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Interchange Capital Partners LLC increased its holdings in shares of MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after purchasing an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC lifted its stake in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after buying an additional 5 shares during the last quarter. Strategic Advisors LLC boosted its holdings in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock worth $2,564,000 after buying an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,763.36 on Friday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The firm’s 50-day simple moving average is $1,674.97 and its 200 day simple moving average is $1,832.65. The firm has a market cap of $89.40 billion, a price-to-earnings ratio of 46.54, a P/E/G ratio of 1.09 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the firm earned $9.74 EPS. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MELI shares. Benchmark cut their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Finally, Scotiabank reduced their price target on 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.