Equitable Holdings Inc. Takes $1.88 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Equitable Holdings purchased 1,109 MercadoLibre shares worth approximately $1.88 million in the second quarter, while institutional investors collectively own 87.62% of the company.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in earnings per share and $10.17 billion in revenue. Revenue increased 49.8% year over year.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Hold ratings; the stock has a consensus rating of Moderate Buy and an average price target of $2,272.

Equitable Holdings Inc. purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,109 shares of the company's stock, valued at approximately $1,883,000.

A number of other hedge funds have also recently bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the 4th quarter valued at $28,000. Wedbush Fund Advisers LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Finally, Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth $29,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,966.25 on Friday. The stock has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a 50 day simple moving average of $1,824.45 and a 200 day simple moving average of $1,772.36. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted $10.31 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a report on Friday, May 8th. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, MercadoLibre 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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