Lifestyle Asset Management Inc. Acquires Shares of 556 MercadoLibre, Inc. $MELI

Lifestyle Asset Management Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, HoldingsChannel reports. The fund acquired 556 shares of the company’s stock, valued at approximately $1,300,000.

Several other large investors also recently modified their holdings of MELI. Brooklyn Investment Group increased its holdings in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the period. Twin Tree Management LP bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the second quarter valued at approximately $29,000. Saudi Central Bank purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $35,000. Finally, McIlrath & Eck LLC raised its holdings in shares of MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after acquiring an additional 15 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,997.61 on Friday. The company has a 50-day moving average price of $2,098.11 and a 200-day moving average price of $2,295.54. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $101.28 billion, a P/E ratio of 48.75, a PEG ratio of 1.46 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the company posted $7.83 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Susquehanna cut their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Morgan Stanley increased their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. BTIG Research reissued a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Thursday, December 4th. Finally, Benchmark dropped their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,842.94.

Insiders Place Their Bets

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock worth $2,308,788 in the last three months. 0.25% of the stock is owned by company insiders.

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.