Entropy Technologies LP Takes $9.52 Million Position in MercadoLibre, Inc. $MELI

Entropy Technologies LP bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,728 shares of the company’s stock, valued at approximately $9,523,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $29,000. Curio Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $30,000. Finally, Holos Integrated Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $32,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of several analyst reports. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. Barclays dropped their target price 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 target price on shares of MercadoLibre in a research report on Friday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at $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 corporate insiders.

MercadoLibre Price Performance

MELI stock opened at $1,589.60 on Friday. The company has a 50 day simple moving average of $1,715.68 and a 200 day simple moving average of $1,873.83. The stock has a market cap of $80.59 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. 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 released its quarterly earnings data 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). The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.74 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS 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.