Csenge Advisory Group Increases Holdings in MercadoLibre, Inc. $MELI

Csenge Advisory Group grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 31.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,595 shares of the company’s stock after acquiring an additional 377 shares during the quarter. Csenge Advisory Group’s holdings in MercadoLibre were worth $3,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of MercadoLibre during the third quarter valued at approximately $35,000. Highline Wealth Partners LLC boosted its position in shares of MercadoLibre by 366.7% in the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares in the last quarter. Curio Wealth LLC raised its stake in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after buying an additional 14 shares during the last quarter. Finally, Stone House Investment Management LLC bought a new stake in MercadoLibre in the second quarter worth $39,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 1.1%

MercadoLibre stock opened at $2,075.01 on Friday. The firm has a market cap of $105.20 billion, a P/E ratio of 50.63, a P/E/G ratio of 1.04 and a beta of 1.42. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average of $2,049.41 and a two-hundred day moving average of $2,239.01. MercadoLibre, Inc. has a twelve month low of $1,723.90 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.MercadoLibre’s revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.83 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MELI has been the topic of a number of recent analyst reports. Benchmark cut their price target on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Thursday, January 1st. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Barclays raised their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings downgraded shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

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.