Pasadena Private Wealth LLC Takes Position in MercadoLibre, Inc. $MELI

Pasadena Private Wealth LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 549 shares of the company’s stock, valued at approximately $1,106,000.

Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at $29,000. Holos Integrated Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre during the 3rd quarter valued at $35,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. UBS Group decreased their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,695.53 on Friday. The firm has a market capitalization of $85.96 billion, a P/E ratio of 44.75, a P/E/G ratio of 1.04 and a beta of 1.41. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock’s 50-day simple moving average is $1,719.41 and its two-hundred day simple moving average is $1,903.92. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22.

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

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction on 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 purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.