Ashoka WhiteOak Capital Pte Ltd Purchases Shares of 8,462 MercadoLibre, Inc. $MELI

Key Points

• Ashoka WhiteOak Capital acquired 8,462 MercadoLibre shares worth approximately $14.2 million, making MELI its sixth-largest holding at 3.3% of the portfolio. Institutional investors collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue; revenue increased 49.8% year over year. Director Alejandro Nicolas Aguzin also purchased 600 shares for nearly $1 million.

Ashoka WhiteOak Capital Pte Ltd acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,462 shares of the company's stock, valued at approximately $14,243,000. MercadoLibre comprises approximately 3.3% of Ashoka WhiteOak Capital Pte Ltd's portfolio, making the stock its 6th biggest holding.

Other large investors have also modified their holdings of the company. Interchange Capital Partners LLC grew its holdings in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC increased its position in MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. raised its stake in MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after purchasing an additional 5 shares during the period. Strategic Advisors LLC raised its stake in MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock worth $605,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Citigroup boosted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Morgan Stanley dropped 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. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

Insiders Place Their Bets

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

MercadoLibre Price Performance

MELI opened at $1,844.58 on Monday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a 50 day moving average of $1,767.47 and a two-hundred day moving average of $1,785.70. The company has a market cap of $93.52 billion, a P/E ratio of 50.17, a P/E/G ratio of 1.26 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the firm posted $10.31 EPS. The business's revenue for the quarter was up 49.8% compared to the same quarter last year. On average, analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Company Profile

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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