ABN AMRO Bank N.V. Makes New Investment in MercadoLibre, Inc. $MELI

Key Points

• ABN AMRO Bank N.V. acquired 647 MercadoLibre shares worth approximately $1.09 million during the second quarter. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and earnings of $9.19 per share, exceeding analyst expectations of $8.65.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Hold ratings. The stock has a “Moderate Buy” consensus rating and an average price target of $2,272.

ABN AMRO Bank N.V. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 647 shares of the company's stock, valued at approximately $1,094,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Laurel Wealth Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the fourth quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the fourth quarter valued at about $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter valued at about $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.26% of the company's stock.

MercadoLibre Trading Up 0.9%

Shares of MELI opened at $1,844.58 on Friday. The stock has a market capitalization of $93.52 billion, a PE ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. The company's fifty day moving average is $1,767.47 and its 200 day moving average is $1,788.68. 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 fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same quarter last year, the business earned $10.31 earnings per share. MercadoLibre's quarterly revenue was up 49.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. Barclays decreased their price objective 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. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. BTIG Research reissued a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. JPMorgan Chase & Co. raised 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 note on Tuesday, August 11th. Finally, Scotiabank lowered their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.

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.

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