Cornerstone Advisors LLC Makes New Investment in MercadoLibre, Inc. $MELI

Key Points

• Cornerstone Advisors acquired 6,331 MercadoLibre shares in the second quarter, valued at approximately $10.75 million. Institutional investors and hedge funds collectively own 87.62% of the company.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates by $0.54, while revenue reached $10.17 billion—up 49.8% year over year and above analyst expectations.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $2,272, despite recent target reductions and the stock opening at $1,787.57.

Cornerstone Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,331 shares of the company's stock, valued at approximately $10,746,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Darwin Wealth Management LLC acquired a new stake in MercadoLibre in the 2nd quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $28,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth about $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 3.1%

Shares of NASDAQ:MELI opened at $1,787.57 on Tuesday. The stock has a 50-day simple moving average of $1,770.98 and a 200-day simple moving average of $1,782.12. The stock has a market capitalization of $90.63 billion, a P/E ratio of 48.61, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. 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 (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. The firm 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 revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.31 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price 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. The trade was a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MELI shares. BTIG Research reissued a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Benchmark cut their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Scotiabank cut 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. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

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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