Spire Wealth Management Buys 461 Shares of MercadoLibre, Inc. $MELI

Spire Wealth Management boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 18.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,906 shares of the company’s stock after purchasing an additional 461 shares during the quarter. Spire Wealth Management’s holdings in MercadoLibre were worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. KLP Kapitalforvaltning AS raised its position in shares of MercadoLibre by 14.7% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 18,700 shares of the company’s stock valued at $43,701,000 after buying an additional 2,400 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in MercadoLibre by 66.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the company’s stock worth $93,000 after acquiring an additional 16 shares in the last quarter. DSM Capital Partners LLC increased its stake in MercadoLibre by 66.2% in the third quarter. DSM Capital Partners LLC now owns 3,968 shares of the company’s stock valued at $9,273,000 after acquiring an additional 1,580 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in MercadoLibre by 2.2% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,307 shares of the company’s stock valued at $5,391,000 after purchasing an additional 50 shares in the last quarter. Finally, Galvin Gaustad & Stein LLC raised its position in MercadoLibre by 73.1% during the third quarter. Galvin Gaustad & Stein LLC now owns 6,031 shares of the company’s stock valued at $14,094,000 after purchasing an additional 2,547 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. This trade represents a 14.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The disclosure for this sale is available in the SEC filing. Insiders sold 1,136 shares of company stock valued at $2,308,788 in the last quarter. Company insiders own 0.25% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,162.61 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $2,069.27 and its 200 day simple moving average is $2,257.45. The firm has a market cap of $109.64 billion, a price-to-earnings ratio of 52.77, a PEG ratio of 1.09 and a beta of 1.42. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period last year, the company posted $7.83 EPS. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup cut their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Finally, Wedbush lowered their price objective on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

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.