TrinityBridge Ltd Boosts Stake in MercadoLibre, Inc. $MELI

TrinityBridge Ltd lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 16.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,624 shares of the company’s stock after purchasing an additional 500 shares during the quarter. TrinityBridge Ltd’s holdings in MercadoLibre were worth $6,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Advisory Inc. grew its position in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after purchasing an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares during the period. TIAA Trust National Association boosted its stake in shares of MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after buying an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC grew its holdings in shares of MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Deutsche Bank AG purchased a new stake in MercadoLibre during the second quarter valued at $279,445,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.7%

NASDAQ:MELI opened at $1,921.96 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The business has a fifty day moving average price of $1,786.39 and a 200-day moving average price of $1,774.91. The firm has a market capitalization of $97.44 billion, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share 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 company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the business earned $10.31 earnings per share. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. Sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MELI shares. Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,272.00.

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.