Marex Group plc Invests $9.91 Million in MercadoLibre, Inc. $MELI

by · The Cerbat Gem

Marex Group plc purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, Holdings Channel reports. The fund purchased 3,793 shares of the company’s stock, valued at approximately $9,914,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in shares of MercadoLibre by 16.4% in the second quarter. Advisory Services Network LLC now owns 4,547 shares of the company’s stock valued at $11,884,000 after acquiring an additional 640 shares during the period. Tyler Stone Wealth Management bought a new position in MercadoLibre during the 2nd quarter valued at about $225,000. Geneos Wealth Management Inc. raised its position in MercadoLibre by 26.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 119 shares of the company’s stock worth $311,000 after purchasing an additional 25 shares during the period. Ashford Capital Management Inc. lifted its stake in MercadoLibre by 0.7% in the second quarter. Ashford Capital Management Inc. now owns 1,079 shares of the company’s stock worth $2,820,000 after purchasing an additional 8 shares during the last quarter. Finally, Caxton Associates LLP purchased a new position in shares of MercadoLibre during the second quarter valued at approximately $3,230,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Benchmark reduced their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,848.82.

Read Our Latest Report on MELI

MercadoLibre Stock Performance

MELI stock opened at $2,015.89 on Friday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The business has a 50-day moving average price of $2,121.14 and a 200 day moving average price of $2,314.90. The company has a market capitalization of $102.21 billion, a P/E ratio of 49.19, a PEG ratio of 1.45 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company earned $7.83 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.

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