AXQ Capital LP Buys 754 Shares of MercadoLibre, Inc. $MELI

Key Points

• AXQ Capital more than doubled its MercadoLibre stake during the second quarter, buying 754 additional shares to own 1,422 shares valued at approximately $2.41 million. Institutional investors collectively hold 87.62% of the company’s stock.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus the $8.65 consensus and $10.17 billion in revenue, up 49.8% year over year.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and an average price target of $2,272, compared with the stock’s reported price of $1,991.06.

AXQ Capital LP lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 112.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,422 shares of the company's stock after acquiring an additional 754 shares during the quarter. AXQ Capital LP's holdings in MercadoLibre were worth $2,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter worth $29,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $28,000. Curio Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MercadoLibre in the third quarter valued at about $35,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 0.8%

NASDAQ MELI opened at $1,991.06 on Friday. The firm has a 50 day simple moving average of $1,853.37 and a 200-day simple moving average of $1,769.52. 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 one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap of $100.95 billion, a price-to-earnings ratio of 54.15, a PEG ratio of 1.37 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the prior year, the business earned $10.31 EPS. The firm's quarterly revenue was up 49.8% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent research reports. Citigroup boosted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a research note on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre 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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