Elevation Point Wealth Partners LLC Reduces Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Elevation Point Wealth Partners cut its MercadoLibre stake by 42.1% in the second quarter, selling 685 shares and retaining 941 shares valued at approximately $1.6 million.
• Institutional investors own 87.62% of MercadoLibre’s shares. Analysts remain broadly positive, with an overall “Moderate Buy” rating and an average price target of $2,272.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and earnings of $9.19 per share, exceeding analyst expectations.

Elevation Point Wealth Partners LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 42.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 941 shares of the company's stock after selling 685 shares during the period. Elevation Point Wealth Partners LLC's holdings in MercadoLibre were worth $1,597,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have weighed in on MELI. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Citigroup lifted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Morgan Stanley lowered their price objective 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. Benchmark dropped 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 note on Friday, May 8th. Finally, Scotiabank cut their target price 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 issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,922.73 on Monday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. 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 capitalization of $97.48 billion, a price-to-earnings ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The business has a 50 day simple moving average of $1,793.05 and a 200 day simple moving average of $1,773.33.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating 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 firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the business earned $10.31 EPS. The firm's revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities research analysts anticipate 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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