Evercore Wealth Management LLC Increases Stock Position in MercadoLibre, Inc. $MELI

Evercore Wealth Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 12.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,601 shares of the company’s stock after buying an additional 2,992 shares during the period. Evercore Wealth Management LLC’s holdings in MercadoLibre were worth $45,994,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter worth about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth about $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. Citigroup upped their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research note on Friday, May 8th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Stock Up 1.0%

MELI stock opened at $1,819.74 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average is $1,710.62 and its 200 day moving average is $1,810.88. The stock has a market cap of $92.26 billion, a price-to-earnings ratio of 48.03, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Sell-side analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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 represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is owned by 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.