MercadoLibre, Inc. $MELI Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,060 shares of the company’s stock after selling 440 shares during the quarter. GC Wealth Management RIA LLC’s holdings in MercadoLibre were worth $1,833,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the fourth quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $29,000. Finally, Curio Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Finally, Citigroup lifted their price target 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. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost 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 $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

MercadoLibre Trading Up 0.2%

MELI opened at $1,801.44 on Friday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The business has a fifty day simple moving average of $1,705.94 and a 200-day simple moving average of $1,815.81. The firm has a market cap of $91.33 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.74 earnings per share. On average, equities analysts expect 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.