Rathbones Group PLC Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Rathbones Group PLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 67.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,042 shares of the company’s stock after buying an additional 10,053 shares during the quarter. Rathbones Group PLC’s holdings in MercadoLibre were worth $43,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the fourth quarter worth $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $30,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MELI. BTIG Research reissued a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Citigroup lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a report on Friday, May 8th. Barclays cut their price target on shares of 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, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’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 transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,877.95 on Monday. 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 $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $1,728.64 and a 200-day simple moving average of $1,802.56.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the company earned $9.74 EPS. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current fiscal 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.