Galvin Gaustad & Stein LLC Raises Holdings in MercadoLibre, Inc. $MELI

Galvin Gaustad & Stein LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 73.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,031 shares of the company’s stock after acquiring an additional 2,547 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in MercadoLibre were worth $14,094,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Lavaca Capital LLC raised its position in shares of MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Norges Bank bought a new position in MercadoLibre in the 2nd quarter worth approximately $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in MercadoLibre by 304.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after buying an additional 192,071 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. Finally, Durable Capital Partners LP lifted its position in shares of MercadoLibre by 155.3% during the second quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after acquiring an additional 90,026 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MELI. Citigroup reduced their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Finally, Morgan Stanley increased their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,842.94.

MercadoLibre Stock Up 1.8%

MELI stock opened at $2,187.04 on Wednesday. The company’s 50 day moving average is $2,071.93 and its 200 day moving average is $2,258.12. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 53.37, a price-to-earnings-growth ratio of 1.07 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the prior year, the firm earned $7.83 EPS. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,136 shares of company stock valued at $2,308,788 over the last 90 days. Insiders own 0.25% 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.