WNY Asset Management LLC Acquires Shares of 899 MercadoLibre, Inc. $MELI

WNY Asset Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, HoldingsChannel reports. The firm bought 899 shares of the company’s stock, valued at approximately $1,554,000.

Several other hedge funds have also modified their holdings of MELI. Baillie Gifford & Co. grew its holdings in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after acquiring an additional 164,120 shares during the period. Capital Research Global Investors boosted its position in shares of MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Capital International Investors grew its stake in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after purchasing an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after purchasing an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $1,877.95 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The stock has a market cap of $95.21 billion, a P/E ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $1,728.64 and a two-hundred day moving average of $1,804.99.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.74 earnings per share. As a group, research analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MELI. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Cantor Fitzgerald reduced their price objective 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. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

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.