Miller Value Partners LLC Reduces Holdings in MercadoLibre, Inc. $MELI

Miller Value Partners LLC trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,712 shares of the company’s stock after selling 503 shares during the quarter. Miller Value Partners LLC’s holdings in MercadoLibre were worth $2,906,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MELI. BlackRock Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter worth $2,246,015,000. Jupiter Topco LLC purchased a new stake in shares of MercadoLibre in the second quarter valued at $917,123,000. Linonia Partnership LP grew its position in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares during the period. Capital Research Global Investors grew its position in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Finally, Norges Bank acquired a new position in MercadoLibre in the fourth quarter valued at $597,045,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Benchmark cut their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Trading Up 2.5%

MELI stock opened at $1,997.00 on Wednesday. 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 company has a market cap of $101.25 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34. The business has a fifty day simple moving average of $1,805.54 and a 200-day simple moving average of $1,771.87. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50.

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

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.