MercadoLibre, Inc. $MELI is ABS Direct Equity Fund LLC’s 7th Largest Position

ABS Direct Equity Fund LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 470.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,910 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. MercadoLibre accounts for approximately 4.0% of ABS Direct Equity Fund LLC’s holdings, making the stock its 7th largest holding. ABS Direct Equity Fund LLC’s holdings in MercadoLibre were worth $5,192,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter worth $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,801.44 on Monday. The firm has a market capitalization of $91.33 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The business’s 50 day moving average price is $1,705.94 and its 200-day moving average price is $1,813.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company earned $9.74 EPS. The firm’s revenue for the quarter was up 49.0% on a year-over-year basis. On average, equities research analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a report on Friday, May 8th. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

About MercadoLibre

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.