Avity Investment Management Inc. Buys 506 Shares of MercadoLibre, Inc. $MELI

Avity Investment Management Inc. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,660 shares of the company’s stock after buying an additional 506 shares during the period. MercadoLibre comprises approximately 2.1% of Avity Investment Management Inc.’s holdings, making the stock its 23rd largest position. Avity Investment Management Inc.’s holdings in MercadoLibre were worth $29,586,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter valued at $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in MercadoLibre in the third quarter worth about $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre during the 3rd quarter valued at about $35,000. Cullen Frost Bankers Inc. grew its stake in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares during the period. Finally, Rothschild Investment LLC increased its position in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 0.2%

Shares of MELI stock opened at $1,728.14 on Wednesday. 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 stock has a fifty day simple moving average of $1,978.71 and a two-hundred day simple moving average of $2,104.96. The firm has a market capitalization of $87.62 billion, a PE ratio of 43.86, a PEG ratio of 0.93 and a beta of 1.48. MercadoLibre, Inc. has a 52-week low of $1,631.18 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The business had revenue of $8.76 billion during 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%. MercadoLibre’s revenue was up 44.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $12.61 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Finally, Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,725.33.

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.