Whittier Trust Co. of Nevada Inc. Raises Stock Holdings in MercadoLibre, Inc. $MELI

Whittier Trust Co. of Nevada Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739 shares of the company’s stock after purchasing an additional 474 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in MercadoLibre were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Bison Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter worth approximately $206,000. Empowered Funds LLC lifted its position in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the last quarter. Focus Partners Wealth boosted its stake in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in MercadoLibre in the second quarter worth $261,000. Finally, Gamco Investors INC. ET AL grew its holdings in MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MELI. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. UBS Group dropped their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lowered their price target for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $8.06 during midday trading on Tuesday, reaching $1,813.74. The company’s stock had a trading volume of 72,359 shares, compared to its average volume of 559,741. The firm has a market capitalization of $91.96 billion, a PE ratio of 47.80, a P/E/G ratio of 1.09 and a beta of 1.35. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The stock has a fifty day moving average of $1,674.97 and a 200 day moving average of $1,831.70. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. On average, equities analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal 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.