MidFirst Bank Makes New Investment in MercadoLibre, Inc. $MELI

MidFirst Bank purchased a new position 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 (SEC). The firm purchased 602 shares of the company’s stock, valued at approximately $1,213,000.

Several other hedge funds have also recently bought and sold shares of the stock. Bison Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $206,000. Empowered Funds LLC grew its holdings in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $261,000. Finally, Gamco Investors INC. ET AL raised its position in MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after buying an additional 30 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. Wedbush decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. BTIG Research restated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,635.15 on Friday. The company has a market cap of $82.90 billion, a P/E ratio of 43.16, a P/E/G ratio of 1.01 and a beta of 1.36. The firm’s fifty day moving average price is $1,706.94 and its two-hundred day moving average price is $1,859.91. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last posted its earnings results 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 company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.74 EPS. Equities analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

About MercadoLibre

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.