Wealth Effects LLC Has $2.04 Million Stock Position in MercadoLibre, Inc. $MELI

Wealth Effects LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 367.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,183 shares of the company’s stock after buying an additional 930 shares during the period. Wealth Effects LLC’s holdings in MercadoLibre were worth $2,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wesbanco Bank Inc. raised its stake in MercadoLibre by 100.0% during the first quarter. Wesbanco Bank Inc. now owns 240 shares of the company’s stock worth $415,000 after acquiring an additional 120 shares in the last quarter. Xcel Wealth Management LLC grew its holdings in shares of MercadoLibre by 184.9% in the 1st quarter. Xcel Wealth Management LLC now owns 453 shares of the company’s stock worth $783,000 after purchasing an additional 294 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its position in shares of MercadoLibre by 17.2% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 170 shares of the company’s stock worth $294,000 after purchasing an additional 25 shares in the last quarter. Meyer Handelman Co. increased its position in shares of MercadoLibre by 43.5% during the 1st quarter. Meyer Handelman Co. now owns 637 shares of the company’s stock worth $1,101,000 after purchasing an additional 193 shares in the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in MercadoLibre during the 1st quarter valued at about $5,706,000. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

MELI stock opened at $1,675.10 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The company has a 50 day moving average price of $1,687.25 and a 200 day moving average price of $1,843.28. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $84.93 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.00 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). The firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.74 earnings per share. Analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several research analyst reports. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Scotiabank decreased their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One 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 given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.