MercadoLibre, Inc. $MELI Stock Position Increased by TenCore Partners LP

TenCore Partners LP boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 51.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,983 shares of the company’s stock after buying an additional 2,025 shares during the period. MercadoLibre makes up approximately 6.2% of TenCore Partners LP’s holdings, making the stock its 7th largest holding. TenCore Partners LP’s holdings in MercadoLibre were worth $12,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $26,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Holos Integrated Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in MercadoLibre during the 3rd quarter valued at $35,000. Finally, Strengthening Families & Communities LLC purchased a new stake in MercadoLibre during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $1,730.98 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $1,720.80 and its 200-day simple moving average is $1,898.53. The company has a market capitalization of $87.76 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 1.04 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the company posted $9.74 EPS. MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Zacks Research downgraded MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. BTIG Research cut their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Wedbush cut their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre 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.