Destination Wealth Management Buys New Position in MercadoLibre, Inc. $MELI

Destination Wealth Management bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 896 shares of the company’s stock, valued at approximately $1,805,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Curio Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre during the 3rd quarter valued at approximately $35,000. Institutional investors own 87.62% of the company’s stock.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,589.60 on Friday. The stock has a 50 day moving average of $1,715.68 and a two-hundred day moving average of $1,873.83. The company has a current ratio of 1.16, a quick ratio of 1.14 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. The company has a market capitalization of $80.59 billion, a P/E ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on MELI shares. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research note on Friday, May 8th. Wedbush reduced their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Morgan Stanley reduced their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target 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.