EMC Capital Management Takes Position in MercadoLibre, Inc. $MELI

Key Points

• EMC Capital Management initiated a MercadoLibre position in the second quarter, purchasing 3,100 shares valued at approximately $5.63 million. The stock now represents about 2.2% of the firm’s portfolio.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $2,272.
• MercadoLibre’s latest quarterly results exceeded expectations: revenue rose 49.8% year over year to $10.17 billion, while earnings per share of $9.19 topped consensus by $0.54.

EMC Capital Management bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,100 shares of the company's stock, valued at approximately $5,632,000. MercadoLibre comprises approximately 2.2% of EMC Capital Management's investment portfolio, making the stock its 8th biggest position.

Several other large investors have also added to or reduced their stakes in the business. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the 4th quarter worth about $28,000. Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup raised 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. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Up 2.2%

MercadoLibre stock opened at $2,006.58 on Thursday. The firm has a market capitalization of $101.73 billion, a PE ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31. The company's 50-day moving average is $1,845.93 and its 200-day moving average is $1,769.50. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

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

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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source