Annex Advisory Services LLC Decreases Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Annex Advisory Services cut its MercadoLibre stake by 97.7% in the second quarter, selling 19,845 shares and retaining 465 shares valued at approximately $789,000.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion.
• Despite mixed analyst actions, the stock carries a consensus “Moderate Buy” rating with an average price target of $2,272; institutional investors own 87.62% of outstanding shares.

Annex Advisory Services LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 97.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465 shares of the company's stock after selling 19,845 shares during the quarter. Annex Advisory Services LLC's holdings in MercadoLibre were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Brown Advisory Inc. increased its stake 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 period. Thompson Siegel & Walmsley LLC lifted its position in shares of MercadoLibre by 238.3% during the 4th 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 period. TIAA Trust National Association grew its holdings in shares of MercadoLibre by 10.9% during the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its holdings in shares of MercadoLibre by 38.6% during the 4th 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 in the last quarter. Finally, PKO Investment Management Joint Stock Co increased its position in shares of MercadoLibre by 28.0% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 3,200 shares of the company's stock worth $6,446,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 5.8%

MELI stock opened at $1,828.29 on Thursday. The firm has a 50-day moving average price of $1,758.86 and a 200-day moving average price of $1,790.47. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. 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 $92.69 billion, a P/E ratio of 49.72, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm's revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.31 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 38.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MELI shares. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Finally, Citigroup lifted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company's stock.

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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