Durable Capital Partners LP Acquires Shares of 57,958 MercadoLibre, Inc. $MELI

Key Points

• Durable Capital Partners LP purchased 57,958 shares of MercadoLibre, Inc. for about $113 million, representing 0.11% ownership of the company.
• Several analysts have raised their price targets for MercadoLibre, with Goldman Sachs increasing their target to $3,000 and Susquehanna to $2,975.
• MercadoLibre reported a 33.8% increase in revenue year-over-year, earning $6.79 billion in the recent quarter, although it missed EPS estimates by $1.70.

Durable Capital Partners LP acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 57,958 shares of the company's stock, valued at approximately $113,069,000. Durable Capital Partners LP owned about 0.11% of MercadoLibre as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc purchased a new stake in shares of MercadoLibre during the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $25,000. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Close Asset Management Ltd boosted its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Finally, Brooklyn Investment Group boosted its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.9%

MELI traded up $44.68 on Thursday, hitting $2,417.80. The company had a trading volume of 270,661 shares, compared to its average volume of 387,604. The firm has a market capitalization of $122.58 billion, a P/E ratio of 59.71, a P/E/G ratio of 1.61 and a beta of 1.49. The stock has a fifty day simple moving average of $2,407.77 and a 200-day simple moving average of $2,295.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the business earned $10.48 earnings per share. The firm's revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MELI shares. Barclays decreased their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup lowered their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday, August 18th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Finally, Susquehanna reaffirmed a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.