Exchange Traded Concepts LLC Acquires 1,755 Shares of MercadoLibre, Inc. $MELI

Exchange Traded Concepts LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,987 shares of the company’s stock after acquiring an additional 1,755 shares during the period. Exchange Traded Concepts LLC’s holdings in MercadoLibre were worth $32,687,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group boosted its stake in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP purchased a new stake in MercadoLibre in the first quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the second quarter worth about $29,000. Saudi Central Bank bought a new stake in MercadoLibre during the 1st quarter valued at approximately $35,000. Finally, McIlrath & Eck LLC grew its holdings in shares of MercadoLibre by 375.0% during the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock worth $37,000 after acquiring an additional 15 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the transaction, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,136 shares of company stock worth $2,308,788. Corporate insiders own 0.25% of the company’s stock.

MercadoLibre Trading Up 1.7%

NASDAQ MELI opened at $1,997.61 on Monday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average price is $2,098.11 and its 200-day moving average price is $2,291.42. The stock has a market cap of $101.28 billion, a P/E ratio of 48.75, a P/E/G ratio of 1.48 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.83 EPS. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on MELI. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Citigroup dropped their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,842.94.

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.