OneDigital Investment Advisors LLC Buys Shares of 967 MercadoLibre, Inc. $MELI

Key Points

• OneDigital Investment Advisors initiated a MercadoLibre position by purchasing 967 shares valued at approximately $1.64 million. Institutional investors and hedge funds collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Hold ratings; MercadoLibre has a consensus rating of “Moderate Buy” and a target price of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in earnings per share and $10.17 billion in revenue, up 49.8% year over year. The stock opened at $1,787.57, down 3.1%.

OneDigital Investment Advisors LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 967 shares of the company's stock, valued at approximately $1,642,000.

A number of other institutional investors have also made changes to their positions in MELI. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre in the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MELI shares. 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 report on Friday, May 8th. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Cantor Fitzgerald increased 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 equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Trading Down 3.1%

NASDAQ MELI opened at $1,787.57 on Tuesday. 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's fifty day moving average price is $1,770.98 and its 200 day moving average price is $1,782.12. The company has a market capitalization of $90.63 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results 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 net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the business earned $10.31 EPS. MercadoLibre's revenue for the quarter was up 49.8% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This trade represents 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 this link. 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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