Knuff & Co LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 63.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,341 shares of the company's stock after acquiring an additional 3,638 shares during the period. MercadoLibre makes up approximately 4.0% of Knuff & Co LLC's investment portfolio, making the stock its 8th largest position. Knuff & Co LLC's holdings in MercadoLibre were worth $15,855,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Interchange Capital Partners LLC boosted its stake in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after buying an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC lifted its holdings in shares of MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after acquiring an additional 5 shares during the last quarter. Mitchell Capital Management Co. lifted its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC boosted its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after purchasing an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
MELI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective 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. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Benchmark dropped their price target 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. Finally, Cantor Fitzgerald raised their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.
Check Out Our Latest Stock Analysis on MELI
MercadoLibre Price Performance
Shares of NASDAQ:MELI opened at $1,908.65 on Thursday. 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 52 week low of $1,495.00 and a 52 week high of $2,548.50. The firm has a market cap of $96.77 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.34. The firm's fifty day moving average is $1,780.15 and its 200-day moving average is $1,776.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the company earned $10.31 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.
Insider Buying and Selling at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company's stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company's stock.
MercadoLibre Profile
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Free Report)
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.
Further Reading
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