Revolve Wealth Partners LLC Makes New $638,000 Investment in MercadoLibre, Inc. $MELI

Revolve Wealth Partners LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 376 shares of the company’s stock, valued at approximately $638,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,940.00 on Wednesday. The firm’s fifty day moving average price is $1,755.07 and its 200 day moving average price is $1,792.76. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market cap of $98.36 billion, a price-to-earnings ratio of 52.76, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.31 EPS. On average, sell-side analysts expect that MercadoLibre, Inc. will post 40.56 EPS for the current year.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. Citigroup raised their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

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.