Hamilton Wealth LLC Buys 1,700 Shares of MercadoLibre, Inc. $MELI

Hamilton Wealth LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 122.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,089 shares of the company’s stock after acquiring an additional 1,700 shares during the quarter. MercadoLibre makes up approximately 1.0% of Hamilton Wealth LLC’s holdings, making the stock its 27th biggest position. Hamilton Wealth LLC’s holdings in MercadoLibre were worth $5,341,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the second quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Morgan Stanley decreased 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 report 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 report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Scotiabank decreased their price target on 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. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,877.95 on Monday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $1,728.64 and its 200 day moving average is $1,802.56. The company has a market cap of $95.21 billion, a price-to-earnings ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last issued 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 analysts’ expectations of $8.29 billion. During the same period in the previous year, the business earned $9.74 earnings per share. The business’s quarterly revenue was up 49.0% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 41 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.