SWS Partners Acquires New Position in MercadoLibre, Inc. $MELI

SWS Partners acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,336 shares of the company’s stock, valued at approximately $3,965,000. MercadoLibre accounts for approximately 0.9% of SWS Partners’ holdings, making the stock its 29th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $597,045,000. Royal Bank of Canada grew its stake in MercadoLibre by 114.2% in the first quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after purchasing an additional 237,008 shares in the last quarter. Marshall Wace LLP grew its stake in MercadoLibre by 184.8% in the fourth 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 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, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, August 6th. JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Stock Up 0.9%

MercadoLibre stock opened at $1,844.58 on Friday. The business has a fifty day moving average of $1,767.47 and a two-hundred day moving average of $1,788.68. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market cap of $93.52 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.25 and a beta of 1.34. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the firm earned $10.31 EPS. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

About MercadoLibre

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.