Evermay Wealth Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Posted by Defense World Staff on Mar 27th, 2023

Evermay Wealth Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 235 shares of the company’s stock, valued at approximately $199,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. LVW Advisors LLC boosted its stake in shares of MercadoLibre by 6.8% during the 4th quarter. LVW Advisors LLC now owns 469 shares of the company’s stock valued at $397,000 after buying an additional 30 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in MercadoLibre during the fourth quarter worth $2,666,000. Wesbanco Bank Inc. lifted its stake in MercadoLibre by 6.2% during the fourth quarter. Wesbanco Bank Inc. now owns 2,236 shares of the company’s stock worth $1,892,000 after purchasing an additional 130 shares during the last quarter. Activest Wealth Management lifted its stake in MercadoLibre by 16.3% in the fourth quarter. Activest Wealth Management now owns 1,503 shares of the company’s stock valued at $1,420,000 after buying an additional 211 shares during the last quarter. Finally, Trifecta Capital Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $51,000. 80.49% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,187.28 on Monday. The business’s 50-day moving average price is $1,165.24 and its 200 day moving average price is $989.35. The firm has a market cap of $59.67 billion, a P/E ratio of 124.45, a PEG ratio of 1.85 and a beta of 1.59. MercadoLibre, Inc. has a 52-week low of $600.68 and a 52-week high of $1,275.82. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 1.44.

MercadoLibre (NASDAQ:MELI – Get Rating) last released its earnings results on Thursday, February 23rd. The company reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $1.14. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.96 billion. MercadoLibre had a return on equity of 29.09% and a net margin of 4.57%. MercadoLibre’s revenue was up 40.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.92) earnings per share. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 14.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 150 shares of MercadoLibre stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the transaction, the director now directly owns 115 shares of the company’s stock, valued at $144,440. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup raised their target price on MercadoLibre from $1,100.00 to $1,460.00 in a research note on Friday, March 3rd. TheStreet upgraded MercadoLibre from a “c” rating to a “b-” rating in a research note on Wednesday, February 15th. BTIG Research raised their price target on MercadoLibre from $1,245.00 to $1,400.00 and gave the company a “buy” rating in a report on Friday, February 24th. Barclays raised their price target on MercadoLibre from $1,250.00 to $1,475.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Finally, StockNews.com started coverage on MercadoLibre in a report on Thursday, March 16th. They set a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $1,305.00.

MercadoLibre Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.