Evolutionary Tree Capital Management LLC Cuts Stock Position in MercadoLibre, Inc. $MELI

Key Points

• Evolutionary Tree Capital Management cut its MercadoLibre stake by 47.6% in the first quarter, selling 634 shares and retaining 698 shares worth approximately $1.21 million.
• MercadoLibre reported quarterly revenue of $8.85 billion, up 49% year over year and above estimates, but earnings per share of $8.23 missed consensus expectations of $8.75.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $2,258.67, while institutional investors collectively own 87.62% of the company.

Evolutionary Tree Capital Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 698 shares of the company's stock after selling 634 shares during the quarter. MercadoLibre accounts for approximately 2.3% of Evolutionary Tree Capital Management LLC's holdings, making the stock its 23rd biggest position. Evolutionary Tree Capital Management LLC's holdings in MercadoLibre were worth $1,207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth about $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the fourth quarter worth about $28,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the fourth quarter worth about $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,877.95 on Friday. The business has a 50 day moving average price of $1,728.64 and a 200 day moving average price of $1,804.99. The company has a market capitalization of $95.21 billion, a P/E ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. 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 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. The firm's revenue for the quarter was up 49.0% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MELI shares. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research report on Wednesday, May 13th. Daiwa Securities Group cut MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research note on Friday, May 8th. Scotiabank reduced their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a report on Thursday, May 7th. Finally, BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. One 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 stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,258.67.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

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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