MercadoLibre, Inc. $MELI Stock Holdings Lifted by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 738.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,601 shares of the company’s stock after acquiring an additional 1,410 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in MercadoLibre were worth $2,768,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bison Wealth LLC purchased a new position in MercadoLibre in the 4th quarter worth about $206,000. Empowered Funds LLC lifted its stake in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL increased its position in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after acquiring an additional 30 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Up 0.8%

MELI stock opened at $1,857.42 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a fifty day simple moving average of $1,678.27 and a 200 day simple moving average of $1,822.75. The firm has a market cap of $94.17 billion, a PE ratio of 49.02, a PEG ratio of 1.13 and a beta of 1.35. 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 (NASDAQ:MELI) last issued 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 net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the company posted $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research analyst reports. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday. Scotiabank cut 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. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

MercadoLibre 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.