Alesco Advisors LLC An ESL Co Buys New Stake in MercadoLibre, Inc. $MELI

Alesco Advisors LLC An ESL Co acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 422 shares of the company’s stock, valued at approximately $730,000.

Several other hedge funds have also modified their holdings of the company. Brown Advisory Inc. boosted its holdings in shares of MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares during the period. TIAA Trust National Association lifted its position in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after buying an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC lifted its position in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after buying an additional 6,200 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MELI shares. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. UBS Group decreased their price target on 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. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a report on Friday, May 8th. Finally, Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.

MercadoLibre Trading Down 0.5%

NASDAQ:MELI opened at $1,822.65 on Wednesday. The firm has a 50-day simple moving average of $1,692.28 and a 200-day simple moving average of $1,818.66. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap of $92.41 billion, a P/E ratio of 48.10, a P/E/G ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (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 business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the business posted $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. Equities analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

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.