Maridea Wealth Management LLC Purchases Shares of 712 MercadoLibre, Inc. $MELI

Maridea Wealth Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The firm acquired 712 shares of the company’s stock, valued at approximately $1,209,000.

Several other large investors have also made changes to their positions in the business. 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 position in MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter valued at approximately $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MELI. Benchmark reduced their price objective on shares of 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. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. UBS Group reduced their price target 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, Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,844.58 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The business has a 50 day simple moving average of $1,767.47 and a two-hundred day simple moving average of $1,788.68. The stock has a market capitalization of $93.52 billion, a PE ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.31 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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.