Western Standard LLC Makes New $2.38 Million Investment in MercadoLibre, Inc. $MELI

Western Standard LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,400 shares of the company’s stock, valued at approximately $2,376,000. MercadoLibre accounts for about 0.8% of Western Standard LLC’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bison Wealth LLC purchased a new stake in MercadoLibre in the 4th quarter valued at about $206,000. Empowered Funds LLC lifted its holdings in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth lifted its holdings in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after acquiring an additional 178 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of MercadoLibre in the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,908.65 on Thursday. 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 $96.77 billion, a P/E ratio of 51.91, a P/E/G ratio of 1.22 and a beta of 1.34. The business’s 50-day simple moving average is $1,780.15 and its 200-day simple moving average is $1,776.50.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Morgan Stanley lowered their price objective on shares of 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. Finally, UBS Group dropped their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.