Insider Buying: MercadoLibre (NASDAQ:MELI) Director Acquires $993,558.00 in Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

MercadoLibre Price Performance

MELI opened at $1,695.53 on Friday. The company’s 50 day simple moving average is $1,719.41 and its 200 day simple moving average is $1,903.92. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $85.96 billion, a PE ratio of 44.75, a P/E/G ratio of 1.04 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% on a year-over-year basis. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Weitz Investment Management Inc. bought a new position in shares of MercadoLibre during the third quarter worth about $8,647,000. Barlow Wealth Partners Inc. grew its position in shares of MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after acquiring an additional 6,429 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after acquiring an additional 7,570 shares during the last quarter. Donaldson Capital Management LLC grew its position in shares of MercadoLibre by 65.0% during the third quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock worth $6,258,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Penserra Capital Management LLC grew its position in shares of MercadoLibre by 34.5% during the third quarter. Penserra Capital Management LLC now owns 3,014 shares of the company’s stock worth $7,042,000 after acquiring an additional 773 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.