SummitTX Capital L.P. Makes New $498,000 Investment in MercadoLibre, Inc. $MELI

SummitTX Capital L.P. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 288 shares of the company’s stock, valued at approximately $498,000.

Several other institutional investors have also modified their holdings of the business. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter worth approximately $29,000. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $30,000. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 0.4%

NASDAQ:MELI opened at $1,877.95 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. 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 business has a 50 day moving average price of $1,728.64 and a two-hundred day moving average price of $1,804.99. The company has a market cap of $95.21 billion, a P/E ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. As a group, analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,258.67.

About MercadoLibre

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.