Ashoka WhiteOak Capital Pte Ltd Has $3.81 Million Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Ashoka WhiteOak Capital Pte Ltd increased its stake in MercadoLibre, Inc. by 20.9% in Q2, now holding shares valued at $3.81 million, which makes up 1.8% of their portfolio.
• MercadoLibre reported earnings of $10.31 per share for the last quarter, missing estimates, while its revenue increased 33.8% year-over-year to $6.79 billion.
• Institutional investors own 87.62% of MercadoLibre's stock, indicating strong backing from major financial entities.

Ashoka WhiteOak Capital Pte Ltd increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,470 shares of the company's stock after purchasing an additional 254 shares during the period. MercadoLibre makes up 1.8% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 5th biggest position. Ashoka WhiteOak Capital Pte Ltd's holdings in MercadoLibre were worth $3,814,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MELI. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the first quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Close Asset Management Ltd increased its position in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group increased its position in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after buying an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 0.7%

NASDAQ MELI opened at $2,492.25 on Friday. The stock has a market cap of $126.36 billion, a P/E ratio of 61.55, a PEG ratio of 1.63 and a beta of 1.49. The company's fifty day simple moving average is $2,390.74 and its 200-day simple moving average is $2,329.30. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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). The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.48 EPS. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays dropped their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Cantor Fitzgerald increased their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Wednesday. Benchmark reissued a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an "outperform" rating in a research report on Tuesday, August 5th. 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 a consensus target price of $2,828.33.

About MercadoLibre

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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