ABS Investment Management LLC Invests $6.27 Million in MercadoLibre, Inc. $MELI

Key Points

• ABS Investment Management acquired 3,695 MercadoLibre shares worth approximately $6.27 million in the second quarter. Institutional investors and hedge funds collectively own 87.62% of the company.
• MercadoLibre reported quarterly earnings of $9.19 per share, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion.
• The stock recently traded at $1,997, up 2.5%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $2,272.

ABS Investment Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,695 shares of the company's stock, valued at approximately $6,272,000.

A number of other large investors also recently bought and sold shares of the stock. Interchange Capital Partners LLC boosted its stake in MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after buying an additional 5 shares during the period. Cornerstone Select Advisors LLC raised its stake in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock valued at $355,000 after acquiring an additional 5 shares during the period. Mitchell Capital Management Co. raised its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after acquiring an additional 5 shares during the period. Strategic Advisors LLC lifted its holdings in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after acquiring an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its holdings in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock worth $605,000 after acquiring an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 2.5%

NASDAQ MELI opened at $1,997.00 on Wednesday. The firm has a 50 day simple moving average of $1,805.54 and a 200-day simple moving average of $1,771.87. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap of $101.25 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MELI shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. UBS Group decreased their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Finally, Cantor Fitzgerald lifted their price objective 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. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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