Pangea Capital Gestao de Recursos Ltda. Makes New $3.11 Million Investment in MercadoLibre, Inc. $MELI

Pangea Capital Gestao de Recursos Ltda. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, Holdings Channel.com reports. The firm purchased 1,800 shares of the company’s stock, valued at approximately $3,112,000. MercadoLibre accounts for approximately 2.4% of Pangea Capital Gestao de Recursos Ltda.’s investment portfolio, making the stock its 3rd biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the 4th quarter valued at $28,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the 2nd quarter worth $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,877.95 on Monday. The stock has a market cap of $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The firm has a fifty day moving average price of $1,728.64 and a 200 day moving average price of $1,802.56. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.74 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on MELI shares. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Scotiabank dropped their target price 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. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.