Carmel Capital Partners LLC Has $2.01 Million Stake in MercadoLibre, Inc. $MELI

Carmel Capital Partners LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 770 shares of the company’s stock after selling 64 shares during the quarter. Carmel Capital Partners LLC’s holdings in MercadoLibre were worth $2,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. Invesco Ltd. grew its position in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after purchasing an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC grew its position in MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares in the last quarter. Nuveen LLC acquired a new stake in MercadoLibre during the first quarter worth approximately $143,367,000. Finally, Goldman Sachs Group Inc. grew its position in MercadoLibre by 18.7% during the first quarter. Goldman Sachs Group Inc. now owns 450,444 shares of the company’s stock worth $878,757,000 after buying an additional 70,834 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MELI shares. Benchmark reissued a “buy” rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Cantor Fitzgerald increased their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,810.88.

MercadoLibre Stock Down 0.9%

NASDAQ MELI opened at $2,024.98 on Friday. The business has a fifty day moving average price of $2,336.31 and a two-hundred day moving average price of $2,346.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $102.66 billion, a PE ratio of 50.01, a PEG ratio of 1.38 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company earned $10.48 earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.