Elevation Point Wealth Partners LLC Has $2.81 Million Stock Holdings in MercadoLibre, Inc. $MELI

Elevation Point Wealth Partners LLC raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 509.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 1,626 shares of the company’s stock after acquiring an additional 1,359 shares during the period. Elevation Point Wealth Partners LLC’s holdings in MercadoLibre were worth $2,811,000 at the end of the most recent reporting period.

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

Insider Activity

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director 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 document filed with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of MELI opened at $1,763.36 on Friday. The company has a market cap of $89.40 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 1.09 and a beta of 1.35. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company’s fifty day simple moving average is $1,674.97 and its 200 day simple moving average is $1,832.65. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results 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 net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the business earned $9.74 EPS. The business’s revenue was up 49.0% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

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.