Advisory Services Network LLC Buys 640 Shares of MercadoLibre, Inc. $MELI

Advisory Services Network LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 16.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,547 shares of the company’s stock after purchasing an additional 640 shares during the period. Advisory Services Network LLC’s holdings in MercadoLibre were worth $11,884,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bison Wealth LLC bought a new stake in MercadoLibre in the 4th quarter valued at $206,000. Vanguard Group Inc. grew its stake in shares of MercadoLibre by 1.2% in the first quarter. Vanguard Group Inc. now owns 208,190 shares of the company’s stock valued at $406,152,000 after acquiring an additional 2,562 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in MercadoLibre in the 1st quarter worth about $259,000. HighTower Advisors LLC boosted its holdings in MercadoLibre by 49.5% in the 1st quarter. HighTower Advisors LLC now owns 7,858 shares of the company’s stock valued at $15,329,000 after purchasing an additional 2,603 shares during the period. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of MercadoLibre during the 1st quarter worth approximately $390,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays boosted their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Citigroup dropped their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. BTIG Research reissued a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Thursday, December 4th. Finally, Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director directly owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,015.89 on Friday. The stock has a market capitalization of $102.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock’s 50 day moving average price is $2,121.14 and its two-hundred day moving average price is $2,314.90.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the company earned $7.83 earnings per share. The firm’s revenue was up 39.5% compared to the same quarter last year. On average, equities analysts predict 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.