Perigon Wealth Management LLC Acquires Shares of 1,038 MercadoLibre, Inc. $MELI

Perigon Wealth Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,038 shares of the company’s stock, valued at approximately $1,762,000.

Several other hedge funds also recently made changes to their positions in the business. Commerzbank Aktiengesellschaft FI bought a new stake in shares of MercadoLibre in the second quarter valued at approximately $562,000. Principle Wealth Partners LLC acquired a new position in MercadoLibre in the 2nd quarter valued at $402,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in MercadoLibre in the 2nd quarter valued at $100,771,000. Ashoka WhiteOak Capital Pte Ltd bought a new stake in shares of MercadoLibre during the 2nd quarter valued at $14,243,000. Finally, Beverly Hills Private Wealth LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth $329,000. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 3.1%

MELI opened at $1,787.57 on Tuesday. The company’s 50 day moving average is $1,770.98 and its 200-day moving average is $1,782.12. The company has a market cap of $90.63 billion, a P/E ratio of 48.61, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.31 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. Scotiabank dropped their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

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.