Deepwater Asset Management LLC Boosts Stake in MercadoLibre, Inc. $MELI

Deepwater Asset Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 38.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,765 shares of the company’s stock after purchasing an additional 2,164 shares during the period. MercadoLibre accounts for approximately 4.6% of Deepwater Asset Management LLC’s holdings, making the stock its 4th largest holding. Deepwater Asset Management LLC’s holdings in MercadoLibre were worth $15,641,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter worth $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Curio Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre in the 3rd quarter worth $35,000. Finally, Holos Integrated Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter worth $32,000. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MELI. Scotiabank reduced their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Finally, Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,607.80 on Monday. The company has a market capitalization of $81.52 billion, a PE ratio of 42.43, a PEG ratio of 0.99 and a beta of 1.36. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $1,720.81 and its 200 day simple moving average is $1,886.65.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.74 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 40.97 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.