Glenmede Trust Co. NA Acquires 1,579 Shares of MercadoLibre, Inc. $MELI

Glenmede Trust Co. NA increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 46.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,967 shares of the company’s stock after purchasing an additional 1,579 shares during the quarter. Glenmede Trust Co. NA’s holdings in MercadoLibre were worth $8,588,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in MELI. Axiom Investment Management LLC acquired a new stake in MercadoLibre in the 1st quarter valued at $2,208,000. WNY Asset Management LLC acquired a new position in shares of MercadoLibre during the 1st quarter worth about $1,554,000. GKV Capital Management Co. Inc. acquired a new position in shares of MercadoLibre during the 1st quarter worth about $664,000. 7G Capital Management LLC boosted its stake in shares of MercadoLibre by 736.0% during the 1st quarter. 7G Capital Management LLC now owns 4,180 shares of the company’s stock worth $7,227,000 after buying an additional 3,680 shares during the last quarter. Finally, Essential Partners LLC grew its holdings in shares of MercadoLibre by 477.8% in the 1st quarter. Essential Partners LLC now owns 52 shares of the company’s stock valued at $90,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,898.79 on Tuesday. The company has a market cap of $96.27 billion, a PE ratio of 50.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The firm has a 50-day moving average of $1,733.33 and a 200-day moving average of $1,801.33. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

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 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 firm had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the company posted $9.74 earnings per share. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased 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 represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. decreased their price target 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. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price 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.