Cetera Investment Advisers Acquires 2,406 Shares of MercadoLibre, Inc. $MELI

Cetera Investment Advisers raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,002 shares of the company’s stock after acquiring an additional 2,406 shares during the quarter. Cetera Investment Advisers’ holdings in MercadoLibre were worth $25,938,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors boosted its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital International Investors boosted its holdings in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock worth $1,216,807,000 after buying an additional 126,294 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the subject of a number of analyst reports. UBS Group reduced their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Benchmark reduced their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research 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 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 $2,258.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,801.44 on Monday. The stock has a market cap of $91.33 billion, a P/E ratio of 47.54, a PEG ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a fifty day moving average price of $1,705.94 and a 200 day moving average price of $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 (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the business earned $9.74 earnings per share. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current year.

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.