Wealth Effects LLC Acquires Shares of 1,475 MercadoLibre, Inc. $MELI

Wealth Effects LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, HoldingsChannel reports. The institutional investor bought 1,475 shares of the company’s stock, valued at approximately $2,504,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre during the fourth quarter valued at $28,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at $30,000. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related 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 price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,844.58 on Monday. The business’s 50-day moving average is $1,767.47 and its 200 day moving average is $1,785.70. 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 firm has a market capitalization of $93.52 billion, a P/E 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 results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the company earned $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on MELI shares. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Benchmark dropped 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 note on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

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.