CORDA Investment Management LLC. Acquires New Holdings in MercadoLibre, Inc. $MELI

CORDA Investment Management LLC. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 731 shares of the company’s stock, valued at approximately $1,241,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter worth $28,000. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the 2nd quarter worth $29,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock traded down $52.11 during trading on Tuesday, reaching $1,926.25. 351,259 shares of the stock were exchanged, compared to its average volume of 524,563. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month 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 company has a market capitalization of $97.66 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The stock has a 50 day simple moving average of $1,865.34 and a 200-day simple moving average of $1,769.47.

MercadoLibre (NASDAQ:MELI) last posted 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 firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the firm posted $10.31 EPS. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MELI shares. Morgan Stanley lowered their price target 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. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup lifted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus price target 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.