Cetera Investment Advisers Acquires 2,406 Shares of MercadoLibre, Inc. $MELI

Cetera Investment Advisers grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 15,002 shares of the company’s stock after acquiring an additional 2,406 shares during the period. Cetera Investment Advisers’ holdings in MercadoLibre were worth $25,938,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. BTIG Research restated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. UBS Group cut their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Finally, Citigroup upped their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. One 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 currently has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,801.44 on Monday. The stock’s 50 day simple moving average is $1,705.94 and its 200 day simple moving average is $1,813.47. 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 $91.33 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

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.