840 Shares in MercadoLibre, Inc. $MELI Acquired by OceanIQ Capital LLC

Key Points

• OceanIQ Capital acquired 840 MercadoLibre shares worth approximately $1.43 million in the second quarter, making MELI about 0.9% of its portfolio. Hedge funds and other institutions collectively own 87.62% of the stock.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds. MercadoLibre has a “Moderate Buy” consensus rating and an average price target of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus the $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.

OceanIQ Capital LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 840 shares of the company's stock, valued at approximately $1,426,000. MercadoLibre makes up approximately 0.9% of OceanIQ Capital LLC's investment portfolio, making the stock its 19th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $206,000. Empowered Funds LLC raised its stake in MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company's stock worth $1,483,000 after acquiring an additional 49 shares in the last quarter. Focus Partners Wealth raised its stake in MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company's stock worth $1,176,000 after acquiring an additional 178 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in MercadoLibre in the second quarter valued at $261,000. Finally, Gamco Investors INC. ET AL lifted its position in MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock valued at $444,000 after acquiring an additional 30 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Daiwa Securities Group cut MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Finally, Citigroup raised their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Stock Down 0.6%

MercadoLibre stock opened at $1,978.36 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The stock has a 50 day moving average of $1,859.43 and a two-hundred day moving average of $1,770.98. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $100.30 billion, a price-to-earnings ratio of 53.80, a PEG ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 earnings per share. The company's revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.

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