EMC Capital Management Purchases New Stake in MercadoLibre, Inc. $MELI

EMC Capital Management purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,100 shares of the company’s stock, valued at approximately $5,632,000. MercadoLibre comprises about 2.2% of EMC Capital Management’s investment portfolio, making the stock its 8th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brown Advisory Inc. lifted its holdings in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares in the last quarter. TIAA Trust National Association grew its holdings in MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after buying an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC increased its position in MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares during the period. Finally, Deutsche Bank AG bought a new position in MercadoLibre during the 2nd quarter worth $279,445,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

MELI has been the subject of a number of recent research reports. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Benchmark lowered their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,006.58 on Thursday. The business has a fifty day moving average price of $1,845.93 and a two-hundred day moving average price of $1,769.50. The stock has a market capitalization of $101.73 billion, a PE ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. 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 released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.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 EPS. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, equities analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal 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.