MidFirst Bank Invests $779,000 in MercadoLibre, Inc. $MELI

MidFirst Bank bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 459 shares of the company’s stock, valued at approximately $779,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in MercadoLibre in the second quarter valued at $2,246,015,000. Deutsche Bank AG purchased a new stake in shares of MercadoLibre in the second quarter valued at about $279,445,000. Perigon Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth about $1,762,000. Commerzbank Aktiengesellschaft FI purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $562,000. Finally, Principle Wealth Partners LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $402,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,787.57 on Tuesday. The company has a market cap of $90.63 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. The stock has a 50 day simple moving average of $1,770.98 and a 200-day simple moving average of $1,782.12. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating 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 analysts’ expectations of $9.79 billion. During the same period last year, the firm earned $10.31 EPS. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MELI. Morgan Stanley cut their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Benchmark lowered 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. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Finally, 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. Eleven equities research 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.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Company 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.