GM Advisory Group LLC Increases Stock Position in MercadoLibre, Inc. $MELI

GM Advisory Group LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 338.7% in the 1st quarter, Holdings Channel reports. The firm owned 1,952 shares of the company’s stock after acquiring an additional 1,507 shares during the period. GM Advisory Group LLC’s holdings in MercadoLibre were worth $3,375,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts have recently commented on MELI shares. Benchmark lowered their target price on 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. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

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

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,763.36 on Friday. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.09 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The business has a 50 day simple moving average of $1,674.97 and a 200-day simple moving average of $1,832.65. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

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

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.