MercadoLibre, Inc. $MELI Shares Sold by Sigma Planning Corp

Sigma Planning Corp lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 65.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189 shares of the company’s stock after selling 353 shares during the period. Sigma Planning Corp’s holdings in MercadoLibre were worth $327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter worth $29,000. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the fourth quarter worth about $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in MercadoLibre during the 3rd quarter valued at approximately $35,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,822.65 on Wednesday. The company has a market capitalization of $92.41 billion, a PE ratio of 48.10, a P/E/G ratio of 1.13 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock has a 50-day moving average price of $1,692.28 and a two-hundred day moving average price of $1,818.66. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the previous year, the company earned $9.74 EPS. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MELI. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research note on Wednesday, May 13th. UBS Group lowered their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Citigroup raised their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,258.67.

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.