Alejandro Nicolas Aguzin Purchases 600 Shares of MercadoLibre (NASDAQ:MELI) Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,696.17 on Thursday. The stock has a market cap of $85.99 billion, a P/E ratio of 44.77, a P/E/G ratio of 1.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a fifty day moving average price of $1,720.07 and a two-hundred day moving average price of $1,906.83. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22.

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

Hedge Funds Weigh In On MercadoLibre

Several hedge funds have recently bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter valued at about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre in the 4th quarter valued at about $30,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Benchmark cut their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.