Mangrove Partners IM LLC Purchases New Position in MercadoLibre, Inc. $MELI

Mangrove Partners IM LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 495 shares of the company’s stock, valued at approximately $997,000.

Several other institutional investors also recently bought and sold shares of the stock. Blair William & Co. IL raised its position in MercadoLibre by 1.4% during the fourth quarter. Blair William & Co. IL now owns 4,139 shares of the company’s stock valued at $8,337,000 after acquiring an additional 56 shares in the last quarter. Titan Wealth CI Ltd purchased a new position in MercadoLibre during the fourth quarter valued at approximately $4,343,000. Royal Bank of Canada raised its position in MercadoLibre by 0.9% during the fourth quarter. Royal Bank of Canada now owns 207,595 shares of the company’s stock valued at $418,149,000 after acquiring an additional 1,932 shares in the last quarter. Carret Asset Management LLC increased its position in shares of MercadoLibre by 1.0% in the fourth quarter. Carret Asset Management LLC now owns 803 shares of the company’s stock valued at $1,617,000 after buying an additional 8 shares in the last quarter. Finally, Militia Capital Partners LP purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $1,309,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on MELI shares. Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley dropped their price target 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 assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Up 1.7%

Shares of NASDAQ:MELI opened at $1,674.08 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $1,713.47 and a two-hundred day moving average of $1,867.47. The stock has a market cap of $84.88 billion, a P/E ratio of 44.18, a PEG ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued 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 company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.74 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

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.