Adalta Capital Management LLC Grows Stake in MercadoLibre, Inc. $MELI

Key Points

• Adalta Capital Management LLC increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 13.2%, owning 2,055 shares valued at approximately $4,009,000.
• MercadoLibre reported earnings per share of $10.31, falling short of the consensus estimate of $12.01, despite a 33.8% revenue increase year-over-year.
• Research analysts have a generally positive outlook on MercadoLibre, with an average target price of $2,817.22 and multiple "Buy" ratings from firms like Raymond James and Scotiabank.

Adalta Capital Management LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,055 shares of the company's stock after purchasing an additional 239 shares during the period. MercadoLibre comprises about 2.1% of Adalta Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Adalta Capital Management LLC's holdings in MercadoLibre were worth $4,009,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Meiji Yasuda Life Insurance Co lifted its position in MercadoLibre by 3.5% during the first quarter. Meiji Yasuda Life Insurance Co now owns 1,034 shares of the company's stock valued at $2,017,000 after purchasing an additional 35 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its position in MercadoLibre by 11.8% during the first quarter. Ashton Thomas Private Wealth LLC now owns 285 shares of the company's stock valued at $556,000 after purchasing an additional 30 shares in the last quarter. TenCore Partners LP lifted its position in MercadoLibre by 4.5% during the first quarter. TenCore Partners LP now owns 3,958 shares of the company's stock valued at $7,722,000 after purchasing an additional 170 shares in the last quarter. ThornTree Capital Partners LP lifted its position in MercadoLibre by 183.2% during the first quarter. ThornTree Capital Partners LP now owns 10,642 shares of the company's stock valued at $20,761,000 after purchasing an additional 6,884 shares in the last quarter. Finally, Scientech Research LLC purchased a new position in shares of MercadoLibre in the first quarter valued at about $3,293,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 0.0%

Shares of NASDAQ MELI opened at $2,417.49 on Monday. The business's 50 day moving average is $2,402.07 and its two-hundred day moving average is $2,302.70. 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, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market capitalization of $122.57 billion, a P/E ratio of 59.71, a PEG ratio of 1.57 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share 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 company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same period in the previous year, the firm earned $10.48 earnings per share. The company's revenue was up 33.8% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna restated a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Citigroup lowered their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.

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