Nellore Capital Management LLC Has $152.26 Million Stock Holdings in MercadoLibre, Inc. $MELI

Nellore Capital Management LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 24.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 89,704 shares of the company’s stock after buying an additional 17,749 shares during the period. MercadoLibre makes up approximately 16.9% of Nellore Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Nellore Capital Management LLC’s holdings in MercadoLibre were worth $152,263,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter valued at $28,000. Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre in the third quarter worth $35,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,006.58 on Thursday. The stock’s fifty day simple moving average is $1,845.93 and its 200 day simple moving average is $1,769.50. The stock has a market capitalization of $101.73 billion, a price-to-earnings ratio of 54.57, a PEG ratio of 1.35 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the business posted $10.31 EPS. MercadoLibre’s revenue was up 49.8% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays decreased their target price 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. Benchmark lowered their price objective 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. JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Finally, Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.