Graham Capital Management L.P. Cuts Position in MercadoLibre, Inc. $MELI

Key Points

• Graham Capital Management cut its MercadoLibre stake by 21.5% in the fourth quarter, though it still held 3,898 shares valued at about $7.85 million.
• Despite some mixed moves among hedge funds, institutional investors still own 87.62% of MercadoLibre shares, and several firms recently increased or initiated positions.
• Wall Street remains broadly bullish on MELI: the stock has a Moderate Buy consensus rating with an average price target of $2,255.33, even as some analysts trimmed their targets.

Graham Capital Management L.P. decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,898 shares of the company's stock after selling 1,069 shares during the period. Graham Capital Management L.P.'s holdings in MercadoLibre were worth $7,852,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Thompson Siegel & Walmsley LLC raised its stake in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. Weitz Investment Management Inc. acquired a new stake in shares of MercadoLibre during the third quarter worth approximately $8,647,000. TIAA Trust National Association grew its position in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after buying an additional 1,083 shares in the last quarter. Brown Advisory Inc. grew its position in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock worth $30,943,000 after buying an additional 14,770 shares in the last quarter. Finally, Deepwater Asset Management LLC grew its position in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock worth $15,641,000 after buying an additional 2,164 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. BTIG Research reissued a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating for the company in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,255.33.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,674.08 on Wednesday. The company has a market cap of $84.88 billion, a PE ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36. The company has a fifty day moving average price of $1,713.47 and a two-hundred day moving average price of $1,867.47. 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, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.74 EPS. Research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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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