CORDA Investment Management LLC. Makes New $1.24 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• CORDA Investment Management purchased 731 MercadoLibre shares worth approximately $1.24 million in the second quarter. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, beating estimates of $8.65, while revenue reached $10.17 billion and grew 49.8% year over year.
• The stock recently traded at $1,926.25, down 2.6%; analysts maintain a “Moderate Buy” consensus with an average price target of $2,272.

CORDA Investment Management LLC. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 731 shares of the company's stock, valued at approximately $1,241,000.

Other institutional investors and hedge funds have also modified their holdings of the company. California State Teachers Retirement System lifted its stake in MercadoLibre by 176,119.7% in the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock worth $203,454,074,000 after acquiring an additional 119,794,873 shares in the last quarter. Capital Research Global Investors grew its stake in MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Capital International Investors increased its holdings in shares of MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after purchasing an additional 137,100 shares during the period. Finally, BlackRock Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth approximately $2,246,015,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 2.6%

MELI traded down $52.11 during midday trading on Tuesday, hitting $1,926.25. 351,259 shares of the company's stock traded hands, compared to its average volume of 524,563. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market cap of $97.66 billion, a PE ratio of 52.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The stock's fifty day simple moving average is $1,865.34 and its 200-day simple moving average is $1,769.47. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.31 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MELI. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Morgan Stanley dropped their price target on shares of 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. Finally, BTIG Research reiterated a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

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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