14,022 Shares in MercadoLibre, Inc. $MELI Acquired by FLP Wealth Management LLC

FLP Wealth Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,022 shares of the company’s stock, valued at approximately $32,769,000. MercadoLibre makes up 37.9% of FLP Wealth Management LLC’s holdings, making the stock its biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Robbins Farley acquired a new position in shares of MercadoLibre during the third quarter valued at $159,000. Harbor Capital Advisors Inc. increased its position in MercadoLibre by 2.9% in the third quarter. Harbor Capital Advisors Inc. now owns 1,648 shares of the company’s stock worth $3,851,000 after purchasing an additional 46 shares during the period. Founders Financial Securities LLC raised its holdings in MercadoLibre by 20.4% during the 3rd quarter. Founders Financial Securities LLC now owns 112 shares of the company’s stock worth $262,000 after purchasing an additional 19 shares during the last quarter. James Hambro & Partners LLP acquired a new position in MercadoLibre during the 3rd quarter valued at about $98,210,000. Finally, Swedbank AB boosted its stake in shares of MercadoLibre by 11.9% in the 3rd quarter. Swedbank AB now owns 137,575 shares of the company’s stock valued at $321,505,000 after purchasing an additional 14,631 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. BTIG Research restated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research report on Thursday, December 4th. Finally, Morgan Stanley lifted their price objective on 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 research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

Insider Buying and Selling at MercadoLibre

In other news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Down 0.1%

NASDAQ:MELI opened at $2,178.41 on Monday. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The stock has a 50-day moving average price of $2,062.64 and a two-hundred day moving average price of $2,251.07. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 53.16, a PEG ratio of 1.08 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 (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the firm earned $7.83 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.