Jupiter Topco LLC Makes New Investment in MercadoLibre, Inc. $MELI

Jupiter Topco LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 540,293 shares of the company’s stock, valued at approximately $917,123,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Advisory Inc. raised its stake in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after purchasing an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its position in MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after purchasing an additional 1,430 shares during the last quarter. TIAA Trust National Association increased its holdings in shares of MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC increased its holdings in shares of MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Deutsche Bank AG acquired a new position in shares of MercadoLibre during the second quarter valued at about $279,445,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 2.5%

Shares of MELI opened at $1,997.00 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $1,805.54 and a 200-day simple moving average of $1,771.87. The stock has a market cap of $101.25 billion, a PE ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 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 analyst estimates of $9.79 billion. During the same quarter in the previous year, the firm earned $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on MELI. Citigroup increased their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Scotiabank lowered their price objective 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. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

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.