MercadoLibre, Inc. $MELI Stake Increased by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 57.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,147 shares of the company’s stock after acquiring an additional 1,510 shares during the period. Private Advisor Group LLC’s holdings in MercadoLibre were worth $7,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MELI. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre during the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter valued at approximately $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the 4th quarter valued at approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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 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 directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase 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 company insiders.

MercadoLibre Stock Down 0.2%

Shares of MELI traded down $3.81 during trading hours on Tuesday, hitting $1,801.87. 52,109 shares of the company were exchanged, compared to its average volume of 559,472. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market cap of $91.35 billion, a PE ratio of 47.57, a PEG ratio of 1.09 and a beta of 1.35. The firm’s 50 day moving average is $1,674.97 and its 200-day moving average is $1,831.70. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the business posted $9.74 earnings per share. The firm’s revenue was up 49.0% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. UBS Group decreased their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lowered their target price for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

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.