Callan Family Office LLC Boosts Stake in MercadoLibre, Inc. $MELI

Key Points

• Callan Family Office LLC increased its stake in MercadoLibre, Inc. by 583.3% in the second quarter, bringing its total holdings to 1,148 shares valued at around $3,000,000.
• Despite a significant increase in stake from institutional investors, the stock has seen a 6.2% decline recently, with an average target price from analysts at $2,815.29.
• MercadoLibre reported Q2 earnings of $10.31 EPS, missing analysts' estimates, despite achieving a 33.8% increase in quarterly revenue year-over-year.

Callan Family Office LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 583.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,148 shares of the company's stock after purchasing an additional 980 shares during the quarter. Callan Family Office LLC's holdings in MercadoLibre were worth $3,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $25,000. Close Asset Management Ltd raised its holdings in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the period. Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new stake in shares of MercadoLibre in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays lowered their target price 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. Weiss Ratings reissued a "buy (b)" rating on shares of MercadoLibre in a research note on Wednesday. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research note 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. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,815.29.

MercadoLibre Stock Down 6.2%

MELI opened at $2,133.67 on Friday. The business has a 50 day moving average price of $2,363.50 and a two-hundred day moving average price of $2,344.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The company has a market cap of $108.18 billion, a PE ratio of 52.70, a P/E/G ratio of 1.52 and a beta of 1.46. 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 issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the company posted $10.48 earnings per share. As a group, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Profile

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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