MercadoLibre, Inc. $MELI Position Increased by PBCay One RSC Ltd

PBCay One RSC Ltd grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 136.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,692 shares of the company’s stock after purchasing an additional 22,359 shares during the period. MercadoLibre makes up about 5.0% of PBCay One RSC Ltd’s holdings, making the stock its 7th largest holding. PBCay One RSC Ltd owned about 0.08% of MercadoLibre worth $66,899,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the 4th quarter valued at about $28,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the 4th quarter valued at about $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Morgan Stanley decreased 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 research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Stock Performance

Shares of MELI opened at $1,798.70 on Friday. The stock has a 50-day simple moving average of $1,700.85 and a 200-day simple moving average of $1,815.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $91.19 billion, a PE ratio of 47.47, a PEG ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.74 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal 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.