Leo Wealth LLC Boosts Stake in MercadoLibre, Inc. $MELI

Leo Wealth LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 385.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 849 shares of the company’s stock after buying an additional 674 shares during the period. Leo Wealth LLC’s holdings in MercadoLibre were worth $1,709,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MELI. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of MercadoLibre in the third quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre in the third quarter worth $35,000. Cullen Frost Bankers Inc. increased its position in MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the last quarter. Finally, Holos Integrated Wealth LLC purchased a new stake in MercadoLibre during the fourth quarter valued at $32,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,715.52 on Monday. The company’s fifty day simple moving average is $1,861.92 and its 200-day simple moving average is $2,039.18. The company has a market cap of $86.98 billion, a P/E ratio of 43.54, a P/E/G ratio of 0.90 and a beta of 1.49. 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 twelve month low of $1,593.21 and a twelve month high of $2,645.22.

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

Analyst Ratings Changes

MELI has been the subject of a number of recent research reports. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a report on Monday, March 9th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Barclays reduced their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,708.67.

MercadoLibre Company 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.