Apollon Wealth Management LLC Acquires 352 Shares of MercadoLibre, Inc. $MELI

Apollon Wealth Management LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 45.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,122 shares of the company’s stock after buying an additional 352 shares during the quarter. Apollon Wealth Management LLC’s holdings in MercadoLibre were worth $1,940,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MELI. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at $30,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 2.6%

MELI stock opened at $1,742.19 on Thursday. 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 stock has a market capitalization of $88.33 billion, a P/E ratio of 45.98, a P/E/G ratio of 1.05 and a beta of 1.34. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The business has a 50-day moving average of $1,678.74 and a 200-day moving average of $1,834.91.

MercadoLibre (NASDAQ:MELI) last announced its 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $9.74 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Morgan Stanley cut their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research note on Wednesday, May 13th. Citigroup lowered 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 report on Wednesday, May 13th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,255.33.

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.