Pittenger & Anderson Inc. Decreases Stock Position in MercadoLibre, Inc. $MELI

Pittenger & Anderson Inc. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 18.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the company’s stock after selling 572 shares during the period. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $4,388,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth about $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the 4th quarter valued at approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre during the 3rd quarter valued at approximately $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock traded up $44.39 on Friday, hitting $1,852.22. 406,269 shares of the stock traded hands, compared to its average volume of 405,449. The company’s fifty day moving average is $1,675.89 and its 200 day moving average is $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 market capitalization of $93.91 billion, a PE ratio of 48.88, a PEG ratio of 1.14 and a beta of 1.35. 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 released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the firm earned $9.74 EPS. The business’s revenue for the quarter was up 49.0% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.