Meitav Investment House Ltd. Grows Stake in MercadoLibre, Inc. $MELI

Meitav Investment House Ltd. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 146.6% in the third quarter, Holdings Channel reports. The fund owned 2,742 shares of the company’s stock after purchasing an additional 1,630 shares during the quarter. Meitav Investment House Ltd.’s holdings in MercadoLibre were worth $6,408,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in MercadoLibre during the third quarter valued at approximately $35,000. Highline Wealth Partners LLC increased its holdings in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock valued at $37,000 after buying an additional 11 shares during the last quarter. Curio Wealth LLC increased its holdings in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new position in MercadoLibre in the second quarter worth approximately $39,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 1,136 shares of company stock worth $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Benchmark cut their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Thursday, December 4th. Morgan Stanley lifted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,842.94.

MercadoLibre Trading Down 1.1%

MercadoLibre stock opened at $2,075.01 on Friday. The stock has a market cap of $105.20 billion, a P/E ratio of 50.63, a PEG ratio of 1.03 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The firm’s 50 day moving average price is $2,049.41 and its 200-day moving average price is $2,237.17.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the business posted $7.83 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.