SFE Investment Counsel Makes New Investment in MercadoLibre, Inc. $MELI

SFE Investment Counsel acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 285 shares of the company’s stock, valued at approximately $484,000.

A number of other hedge funds have also made changes to their positions in MELI. Capital Research Global Investors boosted its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Norges Bank acquired a new stake in MercadoLibre during the fourth quarter worth approximately $597,045,000. Royal Bank of Canada raised its holdings in MercadoLibre by 114.2% during the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after purchasing an additional 237,008 shares in the last quarter. Marshall Wace LLP lifted its position in shares of MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after buying an additional 202,322 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MELI has been the subject of several research analyst reports. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, August 6th. Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

MELI stock opened at $1,844.58 on Friday. The company has a market capitalization of $93.52 billion, a P/E ratio of 50.17, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The business has a 50 day simple moving average of $1,767.47 and a 200-day simple moving average of $1,788.68. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its 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 business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the firm posted $10.31 earnings per share. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS 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.