MercadoLibre, Inc. $MELI Stake Reduced by Carmignac Gestion

Carmignac Gestion lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,098 shares of the company’s stock after selling 59,357 shares during the quarter. MercadoLibre accounts for 4.1% of Carmignac Gestion’s investment portfolio, making the stock its 10th biggest position. Carmignac Gestion’s holdings in MercadoLibre were worth $322,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of research firms have recently commented on MELI. Morgan Stanley reduced their target price on shares of 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. UBS Group lowered their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Down 2.6%

Shares of MELI traded down $52.11 during trading on Tuesday, reaching $1,926.25. The company’s stock had a trading volume of 351,259 shares, compared to its average volume of 524,563. The company has a fifty day moving average of $1,869.91 and a two-hundred day moving average of $1,768.88. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $97.66 billion, a price-to-earnings ratio of 52.39, a P/E/G ratio of 1.36 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 (NASDAQ:MELI) last released 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. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.31 earnings per share. On average, sell-side analysts predict that MercadoLibre, Inc. will post 39.11 EPS 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.