AlpenGlobal Capital LLC Acquires Shares of 3,954 MercadoLibre, Inc. $MELI

Key Points

• AlpenGlobal Capital initiated a new position in MercadoLibre, buying 3,954 shares valued at about $6.84 million; the stake represents 4.4% of its portfolio and is its 7th largest holding.
• Institutional ownership remains heavy, with 87.62% of MercadoLibre shares held by institutions and hedge funds, and several other investors recently increasing their positions.
• MercadoLibre reported mixed quarterly results: earnings of $8.23 per share missed estimates, but revenue rose 49% year over year to $8.85 billion, while the stock was also up 2.5% on the day cited.

AlpenGlobal Capital LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,954 shares of the company's stock, valued at approximately $6,837,000. MercadoLibre accounts for approximately 4.4% of AlpenGlobal Capital LLC's portfolio, making the stock its 7th biggest holding.

Several other large investors also recently modified their holdings of the stock. Brown Advisory Inc. grew its holdings in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock worth $30,943,000 after acquiring an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after acquiring an additional 1,430 shares during the last quarter. TIAA Trust National Association raised its stake in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after acquiring an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC lifted its holdings in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock worth $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas lifted its holdings in shares of MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company's stock worth $80,941,000 after purchasing an additional 6,200 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company's stock.

MercadoLibre Trading Up 2.5%

MELI opened at $1,852.22 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average of $1,675.89 and a 200-day moving average of $1,827.82. The stock has a market cap of $93.91 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre's quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the business earned $9.74 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup cut shares of MercadoLibre from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a "hold" rating to a "buy" rating and cut their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. BTIG Research reiterated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,255.33.

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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