Sycale Advisors NY LLC Grows Position in MercadoLibre, Inc. $MELI

Sycale Advisors NY LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 16.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,921 shares of the company’s stock after acquiring an additional 1,112 shares during the period. MercadoLibre makes up 6.8% of Sycale Advisors NY LLC’s portfolio, making the stock its 7th biggest position. Sycale Advisors NY LLC’s holdings in MercadoLibre were worth $13,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. boosted its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors increased its stake in MercadoLibre by 22.5% during the 4th 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 in the last quarter. Capital International Investors increased its stake in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in MercadoLibre by 26.4% in the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock worth $1,216,807,000 after buying an additional 126,294 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Price Performance

MELI opened at $1,799.21 on Thursday. The company’s 50-day simple moving average is $1,697.03 and its two-hundred day simple moving average is $1,817.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $91.22 billion, a P/E ratio of 47.49, a P/E/G ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm earned $9.74 earnings per share. The business’s revenue was up 49.0% compared to the same quarter last year. As a group, analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director 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 document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.