WBI Investments LLC Makes New Investment in MercadoLibre, Inc. $MELI

Key Points

• WBI Investments LLC has acquired a new position in MercadoLibre, Inc., purchasing 673 shares valued at approximately $1.3 million in the first quarter of 2023.
• Institutional investors now own 87.62% of MercadoLibre's stock, with notable increases in stakes by other funds such as Banco Santander S.A., which raised its position by 221.9%.
• Analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with varying price targets, the highest being $3,100.00 and the current stock price around $2,348.99.

WBI Investments LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 673 shares of the company's stock, valued at approximately $1,312,000.

Several other institutional investors have also recently bought and sold shares of the business. Banco Santander S.A. increased its stake in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after buying an additional 1,893 shares during the period. Prospect Financial Services LLC increased its stake in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after buying an additional 100 shares during the period. Stratos Investment Management LLC acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $203,000. Avant Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $316,000. Finally, Ground Swell Capital LLC acquired a new position in shares of MercadoLibre in the first quarter valued at approximately $439,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MELI. Barclays dropped their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Raymond James Financial restated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Citigroup decreased their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,348.99 on Thursday. The firm has a 50 day moving average of $2,391.71 and a 200-day moving average of $2,304.11. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $119.09 billion, a price-to-earnings ratio of 58.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.48 EPS. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.

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