872 Shares in MercadoLibre, Inc. $MELI Purchased by Abbot Financial Management Inc.

Key Points

• Abbot Financial Management initiated a MercadoLibre position by purchasing 872 shares valued at approximately $1.48 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and EPS of $9.19, exceeding analysts’ $8.65 estimate.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $2,272, compared with the stock’s reported opening price of $1,844.58.

Abbot Financial Management Inc. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 872 shares of the company's stock, valued at approximately $1,480,000.

Several other hedge funds also recently made changes to their positions in the business. Brown Advisory Inc. grew its position in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock worth $30,943,000 after acquiring an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock worth $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association raised its position in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after purchasing an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC raised its position in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co boosted its stake in shares of MercadoLibre by 28.0% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 3,200 shares of the company's stock valued at $6,446,000 after purchasing an additional 700 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. BTIG Research reissued a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Finally, Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,844.58 on Monday. The stock's 50 day moving average is $1,767.47 and its 200 day moving average is $1,785.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market cap of $93.52 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the firm posted $10.31 EPS. The company's quarterly revenue was up 49.8% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current 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.

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