MercadoLibre, Inc. $MELI Shares Bought by Seneca House Advisors

Seneca House Advisors grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,767 shares of the company’s stock after buying an additional 384 shares during the period. MercadoLibre accounts for approximately 1.2% of Seneca House Advisors’ holdings, making the stock its 26th biggest holding. Seneca House Advisors’ holdings in MercadoLibre were worth $3,055,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth about $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre in the fourth quarter valued at approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.5%

NASDAQ:MELI traded up $44.39 during trading hours on Friday, hitting $1,852.22. The stock had a trading volume of 406,269 shares, compared to its average volume of 405,449. The company has a market cap of $93.91 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. The business has a 50 day simple moving average of $1,675.89 and a two-hundred day simple moving average of $1,827.82. 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 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the previous year, the firm posted $9.74 earnings per share. Analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

MELI has been the subject of several research reports. Citigroup downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Cantor Fitzgerald lowered their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.