Maridea Wealth Management LLC Takes $1.21 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Maridea Wealth Management acquired 712 MercadoLibre shares worth approximately $1.21 million during the second quarter. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with 11 Buy ratings and six Holds and an average price target of $2,272, compared with the stock’s reported price of $1,844.58.

Maridea Wealth Management LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 712 shares of the company's stock, valued at approximately $1,209,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SFE Investment Counsel bought a new position in shares of MercadoLibre during the 2nd quarter valued at $484,000. SWS Partners purchased a new stake in MercadoLibre during the second quarter valued at $3,965,000. Trifecta Capital Advisors LLC purchased a new stake in MercadoLibre during the second quarter valued at $102,000. Oppenheimer Asset Management Inc. bought a new position in MercadoLibre in the second quarter valued at about $12,389,000. Finally, Canvas Wealth Advisors LLC lifted its holdings in MercadoLibre by 19.7% in the second quarter. Canvas Wealth Advisors LLC now owns 2,143 shares of the company's stock valued at $3,638,000 after acquiring an additional 352 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,844.58 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a 50-day simple moving average of $1,767.47 and a two-hundred day simple moving average of $1,788.68. The firm 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. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping 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 last year, the company earned $10.31 earnings per share. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MELI shares. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Scotiabank cut their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $2,272.00.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

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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