MercadoLibre, Inc. $MELI Shares Bought by Seneca House Advisors

Seneca House Advisors grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,767 shares of the company’s stock after buying an additional 384 shares during the quarter. MercadoLibre accounts for about 1.2% of Seneca House Advisors’ investment portfolio, making the stock its 26th largest holding. Seneca House Advisors’ holdings in MercadoLibre were worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the fourth quarter valued at about $28,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre in the third quarter valued at about $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MELI. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Performance

NASDAQ MELI traded up $44.39 during trading hours on Friday, hitting $1,852.22. The company had a trading volume of 406,269 shares, compared to its average volume of 405,449. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm has a market cap of $93.91 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The business has a fifty day simple moving average of $1,675.89 and a 200-day simple moving average of $1,827.82.

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

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is currently 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.