MercadoLibre, Inc. $MELI Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 399.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,408 shares of the company’s stock after purchasing an additional 7,525 shares during the quarter. Empowered Funds LLC’s holdings in MercadoLibre were worth $16,267,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. increased its stake in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares during the last quarter. TIAA Trust National Association lifted its position in shares of MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC lifted its position in shares of MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its position in shares of MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after acquiring an additional 6,200 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Trading Up 2.4%

Shares of MercadoLibre stock opened at $1,862.52 on Wednesday. The stock has a 50 day moving average of $1,715.97 and a 200 day moving average of $1,808.77. 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 firm has a market capitalization of $94.43 billion, a price-to-earnings ratio of 49.16, a PEG ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

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

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.