MercadoLibre, Inc. $MELI Stock Position Lifted by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 220.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 506 shares of the company’s stock after purchasing an additional 348 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in MercadoLibre were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MELI. Brown Advisory Inc. lifted its holdings in shares of MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after buying an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares during the period. TIAA Trust National Association grew its holdings in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC raised its position in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Employees Retirement System of Texas raised its position in MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on MELI. UBS Group cut their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

MELI stock opened at $1,697.39 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The firm has a market capitalization of $86.06 billion, a PE ratio of 44.80, a P/E/G ratio of 1.04 and a beta of 1.36. The firm has a 50-day moving average of $1,681.30 and a two-hundred day moving average of $1,836.87.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 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 firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre 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.