Portland Global Advisors LLC Purchases 318 Shares of MercadoLibre, Inc. $MELI

Portland Global Advisors LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,423 shares of the company’s stock after acquiring an additional 318 shares during the period. Portland Global Advisors LLC’s holdings in MercadoLibre were worth $6,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wilkinson Global Asset Management LLC grew its position in MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after acquiring an additional 5 shares during the last quarter. Hardy Reed LLC grew its position in MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after acquiring an additional 5 shares during the last quarter. Rothschild Investment LLC grew its position in MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the last quarter. Interchange Capital Partners LLC grew its position in shares of MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after buying an additional 5 shares during the last quarter. Finally, Cornerstone Select Advisors LLC grew its position in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after buying an additional 5 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Scotiabank reduced their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Wedbush reduced their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Benchmark reduced their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Trading Up 0.0%

NASDAQ MELI opened at $1,695.65 on Friday. The business’s 50-day moving average price is $1,719.52 and its two-hundred day moving average price is $1,902.46. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The firm has a market capitalization of $85.96 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 1.04 and a beta of 1.41. 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 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). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’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 earned $9.74 earnings per share. On average, analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Activity

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

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.