Gabelli Funds LLC Grows Position in MercadoLibre, Inc. $MELI

Gabelli Funds LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 61.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 748 shares of the company’s stock after purchasing an additional 285 shares during the quarter. Gabelli Funds LLC’s holdings in MercadoLibre were worth $1,270,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MELI. Capital Research Global Investors grew its position in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital International Investors increased its stake in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. BlackRock Inc. acquired a new stake in MercadoLibre in the second quarter valued at approximately $2,246,015,000. Finally, Janus Henderson Group PLC raised its holdings in MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $1,922.73 on Friday. The business has a 50 day moving average price of $1,793.05 and a 200 day moving average price of $1,775.94. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

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

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group reduced their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Scotiabank decreased their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.