Perigon Wealth Management LLC Makes New $1.76 Million Investment in MercadoLibre, Inc. $MELI

Perigon Wealth Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,038 shares of the company’s stock, valued at approximately $1,762,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Commerzbank Aktiengesellschaft FI acquired a new position in MercadoLibre during the second quarter valued at approximately $562,000. Principle Wealth Partners LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $402,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $100,771,000. Ashoka WhiteOak Capital Pte Ltd bought a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $14,243,000. Finally, Beverly Hills Private Wealth LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $329,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 3.1%

MELI stock opened at $1,787.57 on Tuesday. The stock has a market cap of $90.63 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. The company has a fifty day moving average price of $1,770.98 and a two-hundred day moving average price of $1,782.12. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year 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 posted its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company posted $10.31 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MELI shares. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Company 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.