Revolve Wealth Partners LLC Purchases New Stake in MercadoLibre, Inc. $MELI

Revolve Wealth Partners LLC bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, HoldingsChannel reports. The institutional investor bought 376 shares of the company’s stock, valued at approximately $638,000.

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

MercadoLibre Stock Performance

Shares of MELI opened at $1,940.00 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The stock has a market cap of $98.36 billion, a P/E ratio of 52.76, a PEG ratio of 1.13 and a beta of 1.34. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $1,755.07 and a two-hundred day moving average of $1,792.76.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the business earned $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 40.56 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Benchmark dropped their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. UBS Group reduced their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

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.