Axiom Investment Management LLC Acquires New Position in MercadoLibre, Inc. $MELI

Axiom Investment Management LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,277 shares of the company's stock, valued at approximately $2,208,000. MercadoLibre makes up about 1.7% of Axiom Investment Management LLC's holdings, making the stock its 15th largest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laird Norton Wetherby Wealth Management LLC grew its holdings in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares during the last quarter. Interchange Capital Partners LLC increased its position in shares of 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 buying an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC raised its stake in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after buying an additional 5 shares during the last quarter. Mitchell Capital Management Co. raised its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after buying an additional 5 shares during the last quarter. Finally, Strategic Advisors LLC boosted its position in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. 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 report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Finally, Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,258.67.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, 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 SEC, which is available at this link. Company insiders own 0.26% of the company's stock.

MercadoLibre Trading Down 0.4%

Shares of MELI opened at $1,877.95 on Friday. The stock has a fifty day moving average of $1,728.64 and a two-hundred day moving average of $1,804.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.74 EPS. As a group, analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current 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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