DUTCH ASSET Corp Raises Position in MercadoLibre, Inc. $MELI

Key Points

• DUTCH ASSET Corp increased its MercadoLibre stake by 194.4% in the first quarter, bringing its holdings to 1,201 shares worth about $2.08 million.
• MercadoLibre reported strong revenue growth in its latest quarter, with sales up 49% year over year to $8.85 billion, although EPS of $8.23 missed analyst expectations.
• Wall Street remains cautiously upbeat on MELI, with a Moderate Buy consensus and an average price target of $2,258.67, while the stock traded around $1,832.42 in the article.

DUTCH ASSET Corp lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 194.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,201 shares of the company's stock after purchasing an additional 793 shares during the quarter. MercadoLibre comprises about 1.4% of DUTCH ASSET Corp's portfolio, making the stock its 17th biggest position. DUTCH ASSET Corp's holdings in MercadoLibre were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its holdings in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock worth $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Capital International Investors increased its holdings in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock valued at $1,216,807,000 after acquiring an additional 126,294 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.0%

Shares of NASDAQ:MELI opened at $1,832.42 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a market cap of $92.90 billion, a price-to-earnings ratio of 48.36, a PEG ratio of 1.12 and a beta of 1.35. The business has a 50-day moving average price of $1,687.40 and a 200-day moving average price of $1,820.01.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm had revenue of $8.85 billion during the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter in the prior year, the company earned $9.74 EPS. MercadoLibre's quarterly revenue was up 49.0% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MELI shares. Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group raised shares of MercadoLibre from a "hold" rating to a "buy" rating and decreased their price target for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Morgan Stanley lowered their price objective on shares of 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. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,258.67.

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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