Bridgewater Advisors Inc. Takes $510,000 Position in MercadoLibre, Inc. $MELI

Bridgewater Advisors Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, Holdings Channel.com reports. The firm acquired 295 shares of the company’s stock, valued at approximately $510,000.

A number of other large investors also recently added to or reduced their stakes in MELI. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre in the fourth quarter valued at approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of analyst reports. 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 report on Friday, May 8th. Benchmark cut their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. One equities research 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 presently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

MercadoLibre Stock Up 0.2%

Shares of NASDAQ MELI opened at $1,801.44 on Friday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market cap of $91.33 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The firm has a 50 day moving average price of $1,705.94 and a 200 day moving average price of $1,815.81.

MercadoLibre (NASDAQ:MELI) last posted its 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). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter last year, the business posted $9.74 earnings per share. Analysts expect that MercadoLibre, Inc. will post 41 EPS for the current year.

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.