Renaissance Technologies LLC Grows Holdings in MercadoLibre, Inc. $MELI

Renaissance Technologies LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 337.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,320 shares of the company’s stock after purchasing an additional 92,792 shares during the period. Renaissance Technologies LLC’s holdings in MercadoLibre were worth $208,036,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre during the 4th quarter worth $28,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and dropped their target price for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,801.44 on Friday. The business has a 50-day moving average of $1,705.94 and a two-hundred day moving average of $1,815.81. The firm has a market capitalization of $91.33 billion, a PE ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued 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 return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 EPS. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 41 earnings per share 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.