S&CO Inc. Invests $1.53 Million in MercadoLibre, Inc. $MELI

S&CO Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 900 shares of the company’s stock, valued at approximately $1,527,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in MercadoLibre in the 2nd quarter worth approximately $740,000. Avalon Trust Co acquired a new stake in MercadoLibre in the second quarter valued at approximately $71,000. One Wealth Advisors LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $409,000. Maridea Wealth Management LLC acquired a new position in shares of MercadoLibre during the second quarter worth $1,209,000. Finally, SFE Investment Counsel purchased a new position in shares of MercadoLibre in the second quarter valued at $484,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Scotiabank dropped their target price 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. Citigroup boosted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

MercadoLibre Trading Up 0.9%

Shares of NASDAQ MELI opened at $1,844.58 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a market cap of $93.52 billion, a price-to-earnings ratio of 50.17, a price-to-earnings-growth ratio of 1.26 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 stock’s 50 day simple moving average is $1,767.47 and its 200 day simple moving average is $1,788.68.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the business earned $10.31 EPS. The firm’s revenue was up 49.8% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.

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.