4,208 Shares in MercadoLibre, Inc. $MELI Bought by Deepwater Asset Management LLC

Key Points

• Deepwater Asset Management acquired 4,208 MercadoLibre shares worth approximately $7.14 million, making MELI about 3.2% of its portfolio. Institutional investors collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $2,272, despite several recent price-target cuts and one downgrade to “hold.”
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in earnings per share and $10.17 billion in revenue; revenue increased 49.8% year over year.

Deepwater Asset Management LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,208 shares of the company's stock, valued at approximately $7,143,000. MercadoLibre makes up about 3.2% of Deepwater Asset Management LLC's holdings, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the second quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $28,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $30,000. Institutional investors own 87.62% of the company's stock.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm's stock in a transaction on 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 transaction, the director owned 5,355 shares of the company's stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MELI. Barclays dropped their price objective on shares of 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. Benchmark lowered their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a report on Friday, May 8th. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Citigroup raised 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, Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective on the stock. in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Stock Down 0.5%

Shares of MELI opened at $1,779.14 on Wednesday. The company has a market capitalization of $90.20 billion, a PE ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The stock's 50-day moving average price is $1,773.74 and its two-hundred day moving average price is $1,778.68. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly 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 during the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the prior year, the firm posted $10.31 earnings per share. The business's quarterly revenue was up 49.8% on a year-over-year basis. On average, analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current 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.

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