MercadoLibre’s (MELI) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of MercadoLibre (NASDAQ:MELI) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $2,750.00 target price on the stock.

Other analysts also recently issued reports about the company. Morgan Stanley upped their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Barclays boosted their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Finally, Citigroup lowered their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,970.15 on Wednesday. MercadoLibre has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The firm’s 50-day simple moving average is $2,074.84 and its 200 day simple moving average is $2,206.74. The firm has a market cap of $99.89 billion, a price-to-earnings ratio of 48.08, a P/E/G ratio of 1.01 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

Insider Activity

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

Institutional Trading of MercadoLibre

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lavaca Capital LLC boosted its holdings in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after purchasing an additional 296,543 shares during the period. Norges Bank bought a new position in shares of MercadoLibre in the second quarter worth $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in MercadoLibre by 304.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock worth $666,744,000 after purchasing an additional 192,071 shares during the period. Finally, Flossbach Von Storch SE boosted its position in shares of MercadoLibre by 1,669.4% in the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after acquiring an additional 171,449 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

About MercadoLibre

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.