FirstWave Capital Management LLC Has $7.55 Million Stock Position in MercadoLibre, Inc. $MELI

Key Points

• FirstWave Capital Management increased its MercadoLibre position by 69.3% in the second quarter, owning 4,448 shares valued at approximately $7.55 million. The holding represents 3.3% of the fund’s portfolio.
• Institutional ownership remains high at 87.62%, with several funds adding shares and Deutsche Bank initiating a position worth about $279.4 million.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $2,272. MercadoLibre also surpassed quarterly earnings and revenue estimates, reporting $9.19 EPS and $10.17 billion in revenue, up 49.8% year over year.

FirstWave Capital Management LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 69.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,448 shares of the company's stock after buying an additional 1,821 shares during the period. MercadoLibre accounts for approximately 3.3% of FirstWave Capital Management LLC's investment portfolio, making the stock its 9th biggest position. FirstWave Capital Management LLC's holdings in MercadoLibre were worth $7,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Brown Advisory Inc. lifted its position in shares of MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock valued at $30,943,000 after buying an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of MercadoLibre by 238.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock worth $4,089,000 after acquiring an additional 1,430 shares during the last quarter. TIAA Trust National Association raised its stake in MercadoLibre by 10.9% in the 4th quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after acquiring an additional 1,083 shares during the period. Deepwater Asset Management LLC lifted its holdings in MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in MercadoLibre during the second quarter worth $279,445,000. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. Citigroup increased their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Stock Down 0.6%

MELI opened at $1,978.36 on Friday. 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 quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31. The stock has a fifty day moving average of $1,859.43 and a 200-day moving average of $1,770.98.

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

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