Empowered Funds LLC Buys New Stake in MercadoLibre, Inc. $MELI

Key Points

• Empowered Funds LLC acquired 3,003 MercadoLibre shares worth approximately $5.1 million during the second quarter. Other institutions also initiated positions, with institutional and hedge-fund ownership reaching 87.62%.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $2,272.
• MercadoLibre’s latest quarterly results exceeded expectations: adjusted EPS was $9.19 versus an $8.65 estimate, while revenue rose 49.8% year over year to $10.17 billion.

Empowered Funds LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,003 shares of the company's stock, valued at approximately $5,097,000.

A number of other institutional investors also recently bought and sold shares of the business. United Capital Financial Advisors LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $1,348,000. Balanced Rock Investment Advisors LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $323,000. Camarda Financial Advisors LLC purchased a new stake in MercadoLibre during the second quarter worth approximately $339,000. WNY Asset Management LLC acquired a new position in MercadoLibre in the second quarter valued at approximately $1,507,000. Finally, Equitable Holdings Inc. acquired a new position in MercadoLibre in the second quarter valued at approximately $1,883,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Benchmark cut their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. BTIG Research restated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, 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. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Trading Down 1.5%

NASDAQ:MELI opened at $1,936.88 on Tuesday. The stock's 50 day moving average price is $1,831.39 and its 200 day moving average price is $1,769.88. The company has a market capitalization 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 company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released 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. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 earnings per share. The firm's revenue was up 49.8% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre 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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