Groupe la Francaise Sells 4,413 Shares of MercadoLibre, Inc. $MELI

Key Points

• Groupe la Francaise reduced its MercadoLibre stake by 27.1% in the second quarter, selling 4,413 shares and retaining 11,892 shares valued at approximately $20.2 million.
• Institutional ownership remains substantial at 87.62%, with several major investors increasing or initiating positions during the quarter.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue, up 49.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,272.

Groupe la Francaise cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 27.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,892 shares of the company's stock after selling 4,413 shares during the quarter. Groupe la Francaise's holdings in MercadoLibre were worth $20,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. California State Teachers Retirement System raised its stake in shares of MercadoLibre by 176,119.7% during the second quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock valued at $203,454,074,000 after acquiring an additional 119,794,873 shares during the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $2,246,015,000. Jupiter Topco LLC purchased a new position in shares of MercadoLibre during the second quarter valued at approximately $917,123,000. Linonia Partnership LP lifted its stake in MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after acquiring an additional 423,527 shares during the period. Finally, Capital Research Global Investors lifted its stake in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,978.36 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a 50 day moving average price of $1,859.43 and a 200-day moving average price of $1,769.45. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The firm has a market capitalization of $100.30 billion, a PE ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm's revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.31 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on MELI shares. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. UBS Group decreased their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, BTIG Research restated a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Company 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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