Mangrove Partners IM LLC Invests $997,000 in MercadoLibre, Inc. $MELI

Mangrove Partners IM LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 495 shares of the company’s stock, valued at approximately $997,000.

A number of other hedge funds have also modified their holdings of MELI. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth about $26,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth about $29,000. Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth about $30,000. Finally, Holos Integrated Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth about $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MELI shares. 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. Benchmark reduced their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group raised 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. Scotiabank reduced their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, UBS Group reduced their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,674.08 on Wednesday. The stock’s 50-day simple moving average is $1,713.47 and its 200-day simple moving average is $1,867.47. The firm has a market capitalization of $84.88 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. 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 fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s quarterly 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 research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.