Sequoia Financial Advisors LLC Has $2.52 Million Stock Holdings in MercadoLibre, Inc. $MELI

Sequoia Financial Advisors LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 23.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,455 shares of the company’s stock after purchasing an additional 277 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in MercadoLibre were worth $2,515,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MELI. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the fourth quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the second quarter valued at about $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. Scotiabank decreased their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Cantor Fitzgerald decreased their price objective 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. Jefferies Financial Group raised shares of 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. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Finally, Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Read Our Latest Stock Analysis on MercadoLibre

More MercadoLibre News

Here are the key news stories impacting MercadoLibre this week:

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,873.88 on Wednesday. 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 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company’s 50 day moving average price is $1,678.50 and its two-hundred day moving average price is $1,824.88. The company has a market capitalization of $95.01 billion, a P/E ratio of 49.46, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $8.29 billion. During the same quarter last year, the company earned $9.74 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

MercadoLibre Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIFree Report).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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