MercadoLibre, Inc. $MELI Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,122 shares of the company’s stock after buying an additional 352 shares during the quarter. Apollon Wealth Management LLC’s holdings in MercadoLibre were worth $1,940,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MELI. Baillie Gifford & Co. increased its stake in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after buying an additional 164,120 shares during the period. Capital Research Global Investors increased its position in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital World Investors increased its position in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after acquiring an additional 22,659 shares during the last quarter. Capital International Investors lifted its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.6%

Shares of NASDAQ MELI opened at $1,742.19 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a market cap of $88.33 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock’s 50 day simple moving average is $1,678.74 and its 200 day simple moving average is $1,834.91.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.74 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MELI shares. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Scotiabank cut 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. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate 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.