Diversify Advisory Services LLC Has $961,000 Holdings in MercadoLibre, Inc. $MELI

Diversify Advisory Services LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 134.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 528 shares of the company’s stock after purchasing an additional 303 shares during the period. Diversify Advisory Services LLC’s holdings in MercadoLibre were worth $961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Capital Research Global Investors lifted its holdings in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors increased its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after acquiring an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new position in shares of MercadoLibre during the second quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock worth $1,062,019,000 after acquiring an additional 10,142 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on MELI shares. Scotiabank reduced their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. 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 report on Wednesday, July 15th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, August 6th. Cantor Fitzgerald increased their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Trading Up 7.3%

Shares of MELI stock opened at $1,908.65 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a 50 day simple moving average of $1,780.15 and a two-hundred day simple moving average of $1,776.50. The company has a market cap of $96.77 billion, a P/E ratio of 51.91, a PEG ratio of 1.22 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last posted its quarterly 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 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% compared to the same quarter last year. During the same period in the prior year, the business earned $10.31 EPS. Research analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.