Diversify Advisory Services LLC Has $961,000 Stake in MercadoLibre, Inc. $MELI

Diversify Advisory Services LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 134.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 528 shares of the company’s stock after buying an additional 303 shares during the period. Diversify Advisory Services LLC’s holdings in MercadoLibre were worth $961,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth approximately $206,000. Empowered Funds LLC lifted its position in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth grew its holdings in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of MercadoLibre in the second quarter worth $261,000. Finally, Gamco Investors INC. ET AL increased its position in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of several recent analyst reports. Barclays cut their price objective on shares of 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. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. Scotiabank cut their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Citigroup lifted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

MercadoLibre Stock Performance

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

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the prior year, the business earned $10.31 earnings per share. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, equities analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

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.