Wealth Effects LLC Buys New Holdings in MercadoLibre, Inc. $MELI

Wealth Effects LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,475 shares of the company’s stock, valued at approximately $2,504,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Interchange Capital Partners LLC boosted its position in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC grew its stake in MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after acquiring an additional 5 shares in the last quarter. Mitchell Capital Management Co. increased its holdings in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC increased its holdings in MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its stake in MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on MELI. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Price Performance

Shares of MELI opened at $1,844.58 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $1,767.47 and a 200 day moving average of $1,785.70. The company has a market cap of $93.52 billion, a PE ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm posted $10.31 earnings per share. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, sell-side analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

MercadoLibre Company 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.