WNY Asset Management LLC Acquires Shares of 899 MercadoLibre, Inc. $MELI

WNY Asset Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 899 shares of the company’s stock, valued at approximately $1,554,000.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital International Investors increased its stake in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was acquired 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 directly owned 5,355 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Benchmark cut their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Morgan Stanley reduced their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Citigroup upped their target price 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. Finally, Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,877.95 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The stock has a market capitalization of $95.21 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. The company has a 50-day simple moving average of $1,728.64 and a 200-day simple moving average of $1,804.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results 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 analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.74 EPS. On average, analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

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.