MidFirst Bank Makes New $779,000 Investment in MercadoLibre, Inc. $MELI

MidFirst Bank purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, HoldingsChannel.com reports. The fund purchased 459 shares of the company’s stock, valued at approximately $779,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $2,246,015,000. Deutsche Bank AG purchased a new position in MercadoLibre in the 2nd quarter valued at approximately $279,445,000. Perigon Wealth Management LLC acquired a new position in MercadoLibre during the second quarter worth $1,762,000. Commerzbank Aktiengesellschaft FI acquired a new position in MercadoLibre during the second quarter worth $562,000. Finally, Principle Wealth Partners LLC purchased a new stake in MercadoLibre during the second quarter worth $402,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was 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 trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research analyst reports. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Benchmark decreased their price objective on shares of 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. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Finally, Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,787.57 on Tuesday. The business’s fifty day moving average price is $1,770.98 and its two-hundred day moving average price is $1,782.12. The stock has a market cap of $90.63 billion, a PE ratio of 48.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the business posted $10.31 earnings per share. MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 39.11 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.