Ground Swell Capital LLC Invests $439,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Ground Swell Capital LLC has invested approximately $439,000 in MercadoLibre, acquiring 225 shares, which makes up about 0.9% of the firm's total holdings.
• Several institutional investors have increased their stakes in MercadoLibre, with GQG Partners boosting its ownership by 23.5% and E Fund Management increasing its holdings by 114.9% in the first quarter.
• Analysts have set a new average price target of $2,795 for MercadoLibre, with the company receiving multiple "buy" ratings from various analysts despite a slight earnings miss reported in August.

Ground Swell Capital LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 225 shares of the company's stock, valued at approximately $439,000. MercadoLibre makes up approximately 0.9% of Ground Swell Capital LLC's holdings, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of MELI. GQG Partners LLC boosted its stake in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after acquiring an additional 87,912 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in MercadoLibre by 114.9% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,296 shares of the company's stock valued at $2,528,000 after acquiring an additional 693 shares in the last quarter. Financial Network Wealth Advisors LLC raised its holdings in shares of MercadoLibre by 127.3% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 25 shares of the company's stock worth $49,000 after buying an additional 14 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of MercadoLibre by 3.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,430 shares of the company's stock worth $2,790,000 after buying an additional 42 shares in the last quarter. Finally, Triglav Skladi D.O.O. acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $4,360,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MELI shares. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,795.00.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,327.30 on Thursday. The business's 50 day moving average price is $2,421.61 and its two-hundred day moving average price is $2,252.11. The company has a market cap of $117.99 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

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

MercadoLibre Company 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.

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