Whittier Trust Co. of Nevada Inc. Grows Position in MercadoLibre, Inc. $MELI

Whittier Trust Co. of Nevada Inc. lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.5% during the first quarter, Holdings Channel.com reports. The firm owned 1,739 shares of the company’s stock after acquiring an additional 474 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in MercadoLibre were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Interchange Capital Partners LLC boosted its holdings in MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC grew its position in MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after buying an additional 5 shares during the period. Mitchell Capital Management Co. increased its holdings in MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after buying an additional 5 shares in the last quarter. Strategic Advisors LLC increased its holdings in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after buying an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in shares of MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Scotiabank lowered their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Barclays dropped their price objective 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. One equities 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Price Performance

Shares of MELI traded up $8.06 during trading hours on Tuesday, hitting $1,813.74. 72,359 shares of the stock were exchanged, compared to its average volume of 559,741. The stock’s 50-day moving average price is $1,674.97 and its two-hundred day moving average price is $1,831.70. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. 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 company has a market cap of $91.96 billion, a price-to-earnings ratio of 47.80, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35.

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