Figure 8 Investment Strategies LLC Purchases New Shares in MercadoLibre, Inc. $MELI

Figure 8 Investment Strategies LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, HoldingsChannel.com reports. The fund acquired 796 shares of the company’s stock, valued at approximately $1,351,000.

Other hedge funds have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre in the 4th quarter worth about $28,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the second quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the fourth quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

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 stock was bought 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 in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 0.5%

Shares of MELI stock opened at $1,779.14 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock’s fifty day moving average is $1,773.74 and its two-hundred day moving average is $1,778.68. The firm has a market capitalization of $90.20 billion, a P/E ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the business earned $10.31 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MELI shares. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. UBS Group decreased their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Benchmark cut their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

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.