Wealth Effects LLC Buys 930 Shares of MercadoLibre, Inc. $MELI

Wealth Effects LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 367.6% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,183 shares of the company’s stock after acquiring an additional 930 shares during the quarter. Wealth Effects LLC’s holdings in MercadoLibre were worth $2,045,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Brown Advisory Inc. raised its position 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 during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. TIAA Trust National Association lifted its holdings 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 purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC boosted its position in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas boosted its position in shares of MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after buying an additional 6,200 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. UBS Group reduced their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Finally, Scotiabank cut their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,675.10 on Friday. 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 50 day moving average price of $1,687.25 and a 200 day moving average price of $1,843.28. The stock has a market capitalization of $84.93 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.00 and a beta of 1.36. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the firm earned $9.74 EPS. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

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.