Amundi Increases Holdings in MercadoLibre, Inc. $MELI

Key Points

• Amundi increased its MercadoLibre stake by 8.9% in the second quarter, bringing its holdings to 192,893 shares valued at approximately $327.4 million. Institutional investors collectively own 87.62% of MELI.
• Analysts remain broadly positive, with 11 Buy ratings and six Holds giving MercadoLibre a consensus “Moderate Buy” rating and an average price target of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus $8.65 expected and $10.17 billion in revenue versus $9.79 billion forecast; revenue rose 49.8% year over year.

Amundi lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 192,893 shares of the company's stock after purchasing an additional 15,797 shares during the quarter. Amundi owned 0.38% of MercadoLibre worth $327,415,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MELI. Carlson Financial Inc. boosted its position in shares of MercadoLibre by 5.5% in the second quarter. Carlson Financial Inc. now owns 210 shares of the company's stock valued at $356,000 after acquiring an additional 11 shares during the period. California State Teachers Retirement System increased its holdings in MercadoLibre by 176,119.7% during the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock worth $203,454,074,000 after acquiring an additional 119,794,873 shares during the period. Ameritas Advisory Services LLC increased its holdings in MercadoLibre by 77.5% during the 2nd quarter. Ameritas Advisory Services LLC now owns 820 shares of the company's stock worth $1,392,000 after acquiring an additional 358 shares during the period. Wedmont Private Capital lifted its stake in MercadoLibre by 15.1% in the 2nd quarter. Wedmont Private Capital now owns 183 shares of the company's stock worth $339,000 after purchasing an additional 24 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC lifted its stake in MercadoLibre by 130.7% in the 2nd quarter. Figure 8 Investment Strategies LLC now owns 796 shares of the company's stock worth $1,351,000 after purchasing an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MELI shares. Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a research report on Thursday, August 6th. Morgan Stanley lowered their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. BTIG Research reiterated a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,978.36 on Tuesday. The firm has a market capitalization of $100.30 billion, a PE ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. 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 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a fifty day moving average of $1,865.34 and a 200 day moving average of $1,769.47.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company's revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted $10.31 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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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