Fifth Lane Capital LP Makes New $1.06 Million Investment in MercadoLibre, Inc. $MELI

Fifth Lane Capital LP bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 525 shares of the company’s stock, valued at approximately $1,057,000. MercadoLibre accounts for approximately 0.8% of Fifth Lane Capital LP’s investment portfolio, making the stock its 24th largest holding.

A number of other large investors also recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares during the period. Norges Bank acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $597,045,000. Marshall Wace LLP lifted its holdings in shares of MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after purchasing an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its position in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. UBS Group cut their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Scotiabank dropped their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Wedbush cut their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,589.60 on Friday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The stock has a market cap of $80.59 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 0.98 and a beta of 1.36. The stock’s 50 day moving average price is $1,715.68 and its 200 day moving average price is $1,873.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

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

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

MercadoLibre 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.