SHP Wealth Management Takes $673,000 Position in MercadoLibre, Inc. $MELI

SHP Wealth Management acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 334 shares of the company’s stock, valued at approximately $673,000.

Several other large investors have also modified their holdings of MELI. Bison Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $206,000. Empowered Funds LLC increased its position in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares during the period. Focus Partners Wealth increased its position in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of MercadoLibre during the second quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after buying an additional 30 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. Scotiabank lowered their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Cantor Fitzgerald cut their target price 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. UBS Group reduced their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Finally, Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,635.15 on Friday. The stock has a 50 day moving average of $1,706.94 and a two-hundred day moving average of $1,859.91. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a market capitalization of $82.90 billion, a P/E ratio of 43.16, a P/E/G ratio of 1.01 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm 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 period in the previous year, the business posted $9.74 EPS. As a group, equities analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

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.