GM Advisory Group LLC Boosts Holdings in MercadoLibre, Inc. $MELI

GM Advisory Group LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 338.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,952 shares of the company’s stock after buying an additional 1,507 shares during the quarter. GM Advisory Group LLC’s holdings in MercadoLibre were worth $3,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew 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 valued at $4,481,812,000 after acquiring an additional 408,939 shares during the period. Assenagon Asset Management S.A. raised its holdings in MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the period. Norges Bank bought a new position in MercadoLibre in the 4th quarter worth $597,045,000. Marshall Wace LLP grew its holdings in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after purchasing an additional 202,322 shares during the period. Finally, 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 valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction 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 directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,763.36 on Friday. The business’s 50-day simple moving average is $1,674.97 and its two-hundred day simple moving average is $1,832.65. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock has a market cap of $89.40 billion, a PE ratio of 46.54, a P/E/G ratio of 1.09 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share 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 the consensus estimate of $8.29 billion. During the same period last year, the company earned $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. As a group, analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MELI. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. UBS Group reduced their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Scotiabank decreased their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.