MercadoLibre, Inc. $MELI Stock Position Lifted by Fiduciary Alliance LLC

Fiduciary Alliance LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 97.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,449 shares of the company’s stock after purchasing an additional 715 shares during the period. Fiduciary Alliance LLC’s holdings in MercadoLibre were worth $2,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter worth approximately $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

MercadoLibre Stock Down 2.4%

Shares of MercadoLibre stock opened at $1,619.25 on Friday. The stock’s fifty day moving average is $1,691.19 and its 200-day moving average is $1,844.46. The firm has a market capitalization of $82.10 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 1.02 and a beta of 1.36. 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, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results 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 company 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 revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.74 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on MELI. Scotiabank decreased their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research note on Wednesday, May 13th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,255.33.

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.