1,400 Shares in MercadoLibre, Inc. $MELI Purchased by Western Standard LLC

Western Standard LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,400 shares of the company’s stock, valued at approximately $2,376,000. MercadoLibre accounts for 0.8% of Western Standard LLC’s holdings, making the stock its 23rd biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre during the fourth quarter worth $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the second quarter worth $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre during the fourth quarter worth $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,908.65 on Thursday. The stock’s 50 day moving average price is $1,780.15 and its 200 day moving average price is $1,776.50. The firm has a market cap of $96.77 billion, a P/E ratio of 51.91, a PEG ratio of 1.22 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

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

Analyst Ratings Changes

Several research firms have weighed in on MELI. Scotiabank lowered their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.