MercadoLibre, Inc. $MELI is PBCay One RSC Ltd’s 7th Largest Position

PBCay One RSC Ltd raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 136.9% in the 1st quarter, HoldingsChannel reports. The fund owned 38,692 shares of the company’s stock after buying an additional 22,359 shares during the quarter. MercadoLibre accounts for approximately 5.0% of PBCay One RSC Ltd’s investment portfolio, making the stock its 7th biggest holding. PBCay One RSC Ltd’s holdings in MercadoLibre were worth $66,899,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MELI. Sei Investments Co. raised its position in shares of MercadoLibre by 20.1% during the 1st quarter. Sei Investments Co. now owns 126,189 shares of the company’s stock worth $218,184,000 after acquiring an additional 21,130 shares in the last quarter. Sycale Advisors NY LLC lifted its stake in MercadoLibre by 16.3% during the first quarter. Sycale Advisors NY LLC now owns 7,921 shares of the company’s stock worth $13,696,000 after purchasing an additional 1,112 shares during the last quarter. Cetera Investment Advisers boosted its holdings in MercadoLibre by 19.1% in the first quarter. Cetera Investment Advisers now owns 15,002 shares of the company’s stock valued at $25,938,000 after purchasing an additional 2,406 shares in the last quarter. Coronation Fund Managers Ltd. boosted its holdings in MercadoLibre by 11.3% in the first quarter. Coronation Fund Managers Ltd. now owns 157,804 shares of the company’s stock valued at $272,846,000 after purchasing an additional 16,019 shares in the last quarter. Finally, Aureus Asset Management LLC increased its stake in MercadoLibre by 411.7% in the first quarter. Aureus Asset Management LLC now owns 962 shares of the company’s stock valued at $1,663,000 after purchasing an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 0.0%

NASDAQ:MELI opened at $1,798.70 on Friday. The company has a market capitalization of $91.19 billion, a PE ratio of 47.47, a P/E/G ratio of 1.11 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. The stock’s 50 day moving average price is $1,700.85 and its 200 day moving average price is $1,815.91. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MELI. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Benchmark cut 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 note on Friday, May 8th. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

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.