Sendero Wealth Management LLC Acquires Shares of 452 MercadoLibre, Inc. $MELI

Sendero Wealth Management LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 452 shares of the company’s stock, valued at approximately $910,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Weitz Investment Management Inc. bought a new stake in MercadoLibre in the 3rd quarter worth $8,647,000. Barlow Wealth Partners Inc. raised its stake in shares of MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after acquiring an additional 6,429 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of MercadoLibre by 14.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after acquiring an additional 10,849 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after purchasing an additional 7,570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of MercadoLibre by 5.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock worth $27,015,000 after purchasing an additional 600 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Weiss Ratings cut MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Morgan Stanley cut their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Monday, March 9th. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, UBS Group decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,708.67.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,630.99 on Friday. The company’s fifty day moving average price is $1,910.64 and its 200-day moving average price is $2,072.11. The stock has a market cap of $82.69 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 12 month low of $1,606.21 and a 12 month high of $2,645.22.

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