Glenmede Trust Co. NA Purchases 1,579 Shares of MercadoLibre, Inc. $MELI

Key Points

• Glenmede Trust increased its MercadoLibre position by 46.6% in the first quarter, purchasing 1,579 additional shares for a total holding of 4,967 shares valued at approximately $8.6 million.
• Institutional investors own 87.62% of MercadoLibre, while director Alejandro Nicolas Aguzin purchased 600 shares worth nearly $1 million, increasing his ownership by 12.62%.
• MercadoLibre’s latest revenue rose 49% year over year to $8.85 billion, beating estimates, though EPS of $8.23 fell short of consensus. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,258.67.

Glenmede Trust Co. NA boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 46.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,967 shares of the company's stock after purchasing an additional 1,579 shares during the quarter. Glenmede Trust Co. NA's holdings in MercadoLibre were worth $8,588,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MELI. Bison Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock worth $1,483,000 after buying an additional 49 shares during the period. Focus Partners Wealth raised its stake in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company's stock worth $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC bought a new position in MercadoLibre during the second quarter worth about $261,000. Finally, Gamco Investors INC. ET AL lifted its holdings in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock worth $444,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,898.79 on Tuesday. The company has a fifty day moving average price of $1,733.33 and a 200 day moving average price of $1,801.33. The firm has a market cap of $96.27 billion, a PE ratio of 50.11, a PEG ratio of 1.16 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business's revenue for the quarter 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. Research analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on MELI shares. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Daiwa Securities Group cut MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Finally, Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,258.67.

MercadoLibre Company 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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