John G Ullman & Associates Inc. Makes New $2.88 Million Investment in MercadoLibre, Inc. $MELI

John G Ullman & Associates Inc. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,665 shares of the company’s stock, valued at approximately $2,879,000.

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

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction 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 acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 2.3%

NASDAQ:MELI opened at $1,813.91 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a market capitalization of $91.97 billion, a P/E ratio of 47.87, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company’s 50-day simple moving average is $1,681.90 and its 200-day simple moving average is $1,822.69.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 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 firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the firm earned $9.74 EPS. The company’s revenue was up 49.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MELI. Benchmark dropped their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Citigroup upped their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

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.