Bank Julius Baer & Co. Ltd Zurich Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Posted by on Apr 5th, 2023

Bank Julius Baer & Co. Ltd Zurich bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 170 shares of the company’s stock, valued at approximately $144,000.

Other large investors have also modified their holdings of the company. Baron Silver Stevens Financial Advisors LLC acquired a new stake in MercadoLibre during the 3rd quarter worth $456,000. Amalgamated Bank boosted its stake in MercadoLibre by 93.8% during the 3rd quarter. Amalgamated Bank now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 15 shares during the period. Huntington National Bank boosted its stake in MercadoLibre by 45.8% during the 3rd quarter. Huntington National Bank now owns 35 shares of the company’s stock worth $29,000 after purchasing an additional 11 shares during the period. Atlas Capital Advisors LLC boosted its stake in MercadoLibre by 414.3% during the 3rd quarter. Atlas Capital Advisors LLC now owns 36 shares of the company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, Tsfg LLC boosted its stake in MercadoLibre by 428.6% during the 3rd quarter. Tsfg LLC now owns 37 shares of the company’s stock worth $31,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.

Insider Activity at MercadoLibre

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

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent research reports. Citigroup increased their price target on shares of MercadoLibre from $1,100.00 to $1,460.00 in a research note on Friday, March 3rd. BTIG Research upped their price objective on shares of MercadoLibre from $1,245.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. Barclays upped their price objective on shares of MercadoLibre from $1,250.00 to $1,475.00 and gave the stock an “overweight” rating in a research report on Friday, February 24th. Credit Suisse Group upped their price objective on shares of MercadoLibre from $1,450.00 to $1,685.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 21st. Finally, StockNews.com initiated coverage on shares of MercadoLibre in a research report on Thursday, March 16th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,356.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,301.90 on Wednesday. The stock has a market cap of $65.43 billion, a price-to-earnings ratio of 136.47, a PEG ratio of 2.06 and a beta of 1.58. MercadoLibre, Inc. has a 52 week low of $600.68 and a 52 week high of $1,329.49. The company’s 50-day moving average price is $1,189.57 and its 200 day moving average price is $1,004.35. 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 (NASDAQ:MELI – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $1.14. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.96 billion. MercadoLibre had a net margin of 4.57% and a return on equity of 29.09%. The firm’s revenue was up 40.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.92) EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 14.97 earnings per share for the current fiscal year.

About MercadoLibre

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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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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