Leo Wealth LLC Boosts Holdings in MercadoLibre, Inc. $MELI

Leo Wealth LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 385.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 849 shares of the company’s stock after buying an additional 674 shares during the quarter. Leo Wealth LLC’s holdings in MercadoLibre were worth $1,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Weitz Investment Management Inc. purchased a new stake in MercadoLibre in the 3rd quarter worth approximately $8,647,000. Barlow Wealth Partners Inc. raised its stake in MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after acquiring an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in MercadoLibre by 14.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after purchasing an additional 10,849 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in MercadoLibre by 18.7% during the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of MercadoLibre by 5.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock worth $27,015,000 after purchasing an additional 600 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,715.52 on Monday. MercadoLibre, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22. The company’s fifty day moving average price is $1,861.92 and its 200-day moving average price is $2,039.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The company has a market capitalization of $86.98 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing the consensus estimate of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The business’s revenue was up 44.6% on a year-over-year basis. During the same period in the previous year, the business posted $12.61 earnings per share. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on MELI shares. BTIG Research reduced their price objective on shares of MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Wedbush dropped their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Barclays decreased their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,708.67.

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.