Permanens Capital L.P. Acquires New Stake in MercadoLibre, Inc. $MELI

Permanens Capital L.P. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,630 shares of the company’s stock, valued at approximately $2,767,000.

Several other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $2,246,015,000. Jupiter Topco LLC acquired a new stake in MercadoLibre during the second quarter worth approximately $917,123,000. Linonia Partnership LP raised its position in MercadoLibre by 325.1% in the 2nd 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 last quarter. Capital Research Global Investors raised its stake in shares of MercadoLibre by 22.5% during the 4th 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. Finally, Norges Bank acquired a new stake in MercadoLibre in the 4th quarter valued at about $597,045,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,950.44 on Thursday. The firm has a market cap of $98.89 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company’s 50 day moving average is $1,811.91 and its 200 day moving average is $1,771.27.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on MELI. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. UBS Group lowered their price target 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. Finally, Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, MercadoLibre currently has an average 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.