Knuff & Co LLC Purchases 3,638 Shares of MercadoLibre, Inc. $MELI

Knuff & Co LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 63.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,341 shares of the company’s stock after acquiring an additional 3,638 shares during the quarter. MercadoLibre comprises 4.0% of Knuff & Co LLC’s investment portfolio, making the stock its 8th biggest holding. Knuff & Co LLC’s holdings in MercadoLibre were worth $15,855,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the second quarter worth approximately $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Trading Up 7.3%

Shares of MercadoLibre stock opened at $1,908.65 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock has a 50 day moving average price of $1,780.15 and a two-hundred day moving average price of $1,776.50. The stock has a market capitalization of $96.77 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data 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 firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.