MercadoLibre, Inc. $MELI Shares Bought by Linonia Partnership LP

Linonia Partnership LP grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 325.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 553,788 shares of the company’s stock after acquiring an additional 423,527 shares during the quarter. MercadoLibre accounts for approximately 16.8% of Linonia Partnership LP’s investment portfolio, making the stock its biggest position. Linonia Partnership LP’s holdings in MercadoLibre were worth $939,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wedbush Fund Advisers LLC bought a new position in MercadoLibre during the second quarter worth about $29,000. Route One Investment Company L.P. boosted its holdings in MercadoLibre by 46.4% in the 2nd quarter. Route One Investment Company L.P. now owns 65,560 shares of the company’s stock valued at $111,281,000 after purchasing an additional 20,775 shares during the period. ABS Investment Management LLC bought a new stake in MercadoLibre in the 2nd quarter valued at about $6,272,000. Kapitalo Investimentos Ltda acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $772,000. Finally, Eschler Asset Management LLP grew its position in shares of MercadoLibre by 22.8% during the 2nd quarter. Eschler Asset Management LLP now owns 921 shares of the company’s stock worth $1,563,000 after purchasing an additional 171 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Price Performance

MELI stock opened at $1,997.00 on Wednesday. The company’s 50-day moving average price is $1,805.54 and its two-hundred day moving average price is $1,771.87. The firm has a market cap of $101.25 billion, a P/E ratio of 54.31, a P/E/G ratio of 1.33 and a beta of 1.34. 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, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted $10.31 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

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.