Citizens Financial Group Inc. RI Purchases Shares of 353 MercadoLibre, Inc. $MELI

Citizens Financial Group Inc. RI purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 353 shares of the company’s stock, valued at approximately $599,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre during the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MELI shares. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research note on Friday, May 8th. Scotiabank decreased their target price 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. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,908.65 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a 50 day moving average price of $1,780.15 and a two-hundred day moving average price of $1,776.50. The company has a market capitalization of $96.77 billion, a P/E ratio of 51.91, a PEG ratio of 1.22 and a beta of 1.34.

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

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction 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 transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Company 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.