Corient Private Wealth LP Acquires Shares of 2,626 MercadoLibre, Inc. $MELI

Key Points

• Corient Private Wealth initiated a MercadoLibre position by purchasing 2,626 shares valued at approximately $4.46 million. Institutional investors collectively own 87.62% of MELI’s outstanding shares.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings and six Holds and an average price target of $2,272. Recent targets range from $1,750 to $2,450.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue, with revenue rising 49.8% year over year.

Corient Private Wealth LP bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,626 shares of the company's stock, valued at approximately $4,455,000.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors increased 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 purchasing an additional 408,939 shares in the last quarter. Capital International Investors lifted its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 9.5% during the fourth 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 buying an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre during the second quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC increased its position in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MELI. Citigroup lifted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Morgan Stanley lowered their price objective 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. UBS Group dropped their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. 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 research report on Thursday, August 6th. Finally, Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Stock Performance

MELI stock opened at $1,936.88 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market cap of $98.20 billion, a PE ratio of 52.68, a P/E/G ratio of 1.35 and a beta of 1.34. The business has a 50 day moving average of $1,831.39 and a 200-day moving average of $1,769.88. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.31 EPS. As a group, sell-side 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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