Graham Capital Management L.P. Buys 6,628 Shares of MercadoLibre, Inc. $MELI

Key Points

• Graham Capital Management L.P. significantly increased its stake in MercadoLibre, acquiring 6,628 additional shares, marking a 1,131.1% increase in holdings during the first quarter.
• MercadoLibre reported earnings per share of $10.31 for the last quarter, missing analysts' expectations, while revenue of $6.79 billion exceeded estimates.
• Approximately 87.62% of MercadoLibre's stock is currently owned by institutional investors, indicating strong interest from larger financial entities.

Graham Capital Management L.P. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1,131.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,214 shares of the company's stock after buying an additional 6,628 shares during the quarter. MercadoLibre comprises 0.2% of Graham Capital Management L.P.'s portfolio, making the stock its 29th biggest position. Graham Capital Management L.P.'s holdings in MercadoLibre were worth $14,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Banco Santander S.A. raised its position in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after purchasing an additional 1,893 shares during the period. Prospect Financial Services LLC grew its holdings in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after buying an additional 100 shares in the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter worth about $203,000. JARISLOWSKY FRASER Ltd grew its holdings in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after buying an additional 987 shares in the last quarter. Finally, Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $316,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI traded down $6.64 on Wednesday, reaching $2,373.12. The stock had a trading volume of 302,149 shares, compared to its average volume of 358,440. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a fifty day moving average of $2,411.12 and a two-hundred day moving average of $2,294.95. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a market cap of $120.32 billion, a P/E ratio of 58.61, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $10.48 earnings per share. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

MELI has been the subject of a number of research reports. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Scotiabank initiated coverage on MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective for the company. Susquehanna reiterated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.