Kemnay Advisory Services Inc. Purchases 1,588 Shares of MercadoLibre, Inc. $MELI

Key Points

• Kemnay Advisory Services Inc. boosted its stake in MercadoLibre by 59.9%, purchasing 1,588 shares to hold 4,238 shares valued at $9.904 million, which represents 1.5% of Kemnay's portfolio and its 17th-largest holding.
• MercadoLibre reported quarterly EPS of $11.03 (missing the $11.66 estimate) while revenue topped forecasts at $8.76 billion, up 44.6% year-over-year.
• Several analysts have lowered price targets, but the consensus remains a Moderate Buy with an average target price of $2,785.33.

Kemnay Advisory Services Inc. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 59.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,238 shares of the company's stock after purchasing an additional 1,588 shares during the period. MercadoLibre comprises 1.5% of Kemnay Advisory Services Inc.'s portfolio, making the stock its 17th largest holding. Kemnay Advisory Services Inc.'s holdings in MercadoLibre were worth $9,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in MercadoLibre during the third quarter valued at about $35,000. Cullen Frost Bankers Inc. raised its holdings in MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company's stock valued at $37,000 after acquiring an additional 8 shares during the period. Rothschild Investment LLC boosted its stake in shares of MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company's stock worth $44,000 after acquiring an additional 5 shares during the period. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of MercadoLibre during the third quarter worth about $47,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MELI shares. BTIG Research dropped their price target on MercadoLibre from $2,750.00 to $2,650.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Dbs Bank upgraded shares of MercadoLibre from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, December 2nd. Wedbush reduced their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Barclays decreased their price target on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an "overweight" rating for the company in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average target price of $2,785.33.

MercadoLibre Stock Up 0.4%

NASDAQ MELI opened at $1,787.86 on Friday. The stock has a 50 day moving average price of $2,024.42 and a 200-day moving average price of $2,140.50. MercadoLibre, Inc. has a one year low of $1,654.24 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The company has a market capitalization of $90.64 billion, a P/E ratio of 45.38, a P/E/G ratio of 0.90 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The business had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the prior year, the firm posted $12.61 EPS. The company's revenue for the quarter was up 44.6% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insider Activity

In other news, Director Stelleo Tolda sold 246 shares of the company's stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director directly owned 257 shares of the company's stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.