Vestmark Advisory Solutions Inc. Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Posted by Defense World Staff on Apr 2nd, 2023

Vestmark Advisory Solutions Inc. lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,241 shares of the company’s stock after buying an additional 67 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in MercadoLibre were worth $1,050,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MELI. Raymond James Trust N.A. acquired a new stake in shares of MercadoLibre in the first quarter worth approximately $236,000. Cibc World Market Inc. boosted its position in shares of MercadoLibre by 6.1% in the first quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock worth $784,000 after acquiring an additional 38 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MercadoLibre by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock worth $225,000 after acquiring an additional 15 shares during the last quarter. Blair William & Co. IL boosted its position in shares of MercadoLibre by 10.1% in the first quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock worth $3,423,000 after acquiring an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of MercadoLibre by 25.1% in the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock worth $1,247,000 after acquiring an additional 210 shares during the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of MercadoLibre from $1,620.00 to $1,770.00 in a research report on Friday. StockNews.com began coverage on shares of MercadoLibre in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Citigroup lifted their price target on shares of MercadoLibre from $1,100.00 to $1,460.00 in a research report on Friday, March 3rd. TheStreet raised shares of MercadoLibre from a “c” rating to a “b-” rating in a research report on Wednesday, February 15th. Finally, Credit Suisse Group lifted their price target on shares of MercadoLibre from $1,450.00 to $1,685.00 and gave the company an “outperform” rating in a research report on Tuesday, February 21st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,356.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,318.06 on Friday. The company has a market capitalization of $66.24 billion, a PE ratio of 138.16, a price-to-earnings-growth ratio of 1.91 and a beta of 1.59. The firm has a fifty day simple moving average of $1,181.35 and a 200-day simple moving average of $998.93. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 1.44. MercadoLibre, Inc. has a twelve month low of $600.68 and a twelve month high of $1,325.67.

MercadoLibre (NASDAQ:MELI – Get Rating) last announced its earnings results on Thursday, February 23rd. The company reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.11 by $1.14. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.96 billion. MercadoLibre had a net margin of 4.57% and a return on equity of 29.09%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.92) earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 14.97 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 150 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $1,256.00, for a total value of $188,400.00. Following the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

MercadoLibre Company 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.