Insigneo Advisory Services LLC Raises Stock Holdings in MercadoLibre, Inc. $MELI

Insigneo Advisory Services LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,952 shares of the company’s stock after purchasing an additional 776 shares during the quarter. Insigneo Advisory Services LLC’s holdings in MercadoLibre were worth $6,897,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MELI. Highview Capital Management LLC DE acquired a new stake in MercadoLibre during the second quarter worth $559,000. Resona Asset Management Co. Ltd. lifted its stake in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after purchasing an additional 585 shares during the last quarter. Weitz Investment Management Inc. purchased a new position in shares of MercadoLibre during the 3rd quarter worth $8,647,000. Achmea Investment Management B.V. grew its holdings in shares of MercadoLibre by 10.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock worth $13,921,000 after purchasing an additional 525 shares during the period. Finally, Barlow Wealth Partners Inc. increased its position in shares of 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 purchasing an additional 6,429 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,136 shares of company stock worth $2,308,788 in the last quarter. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,800.00 to $2,650.00 and set an “overweight” rating for the company in a research report on Monday. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. 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 research note on Wednesday, February 25th. Finally, UBS Group dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,785.33.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,714.01 on Wednesday. The firm has a 50 day moving average of $2,037.68 and a two-hundred day moving average of $2,151.13. The stock has a market capitalization of $86.90 billion, a PE ratio of 43.50, a P/E/G ratio of 0.88 and a beta of 1.48. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a 52 week low of $1,654.24 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 33.73% and a net margin of 6.91%.The firm’s revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the company posted $12.61 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company 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.