Parallel Advisors LLC Grows Position in MercadoLibre, Inc. $MELI

Parallel Advisors LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 98.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,056 shares of the company’s stock after purchasing an additional 524 shares during the period. Parallel Advisors LLC’s holdings in MercadoLibre were worth $2,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in MercadoLibre in the third quarter valued at about $35,000. Cullen Frost Bankers Inc. lifted its position in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the period. Rothschild Investment LLC lifted its position in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 3rd quarter worth approximately $47,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI stock opened at $1,769.52 on Tuesday. The stock has a market capitalization of $89.71 billion, a price-to-earnings ratio of 44.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.48. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 52-week low of $1,654.24 and a 52-week high of $2,645.22. The stock’s fifty day simple moving average is $2,019.51 and its 200-day simple moving average is $2,135.12.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter in the previous year, the company posted $12.61 earnings per share. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. UBS Group reduced their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a report on Friday, February 27th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Finally, Morgan Stanley cut their price target on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,762.00.

Insider Activity

In other news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by insiders.

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.