Infusive Asset Management Inc. Acquires 1,905 Shares of MercadoLibre, Inc. $MELI

Key Points

• Infusive Asset Management Inc. increased its stake in MercadoLibre, Inc. by 807.2% during Q1, owning 2,141 shares valued at approximately $4.18 million.
• MercadoLibre reported Q2 earnings of $10.31 per share, missing estimates by $1.70, while revenue reached $6.79 billion, exceeding expectations by $220 million.
• Wall Street analysts maintain an overall "Moderate Buy" rating on MercadoLibre, with a consensus target price of $2,817.22, suggesting potential growth in the stock's value.

Infusive Asset Management Inc. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 807.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,141 shares of the company's stock after acquiring an additional 1,905 shares during the period. MercadoLibre comprises approximately 1.9% of Infusive Asset Management Inc.'s portfolio, making the stock its 20th largest position. Infusive Asset Management Inc.'s holdings in MercadoLibre were worth $4,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MELI. Bank Pictet & Cie Europe AG purchased a new position in MercadoLibre during the fourth quarter worth approximately $561,000. Bison Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $206,000. Aptus Capital Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at about $284,000. Ancora Advisors LLC raised its position in shares of MercadoLibre by 10.9% during the 4th quarter. Ancora Advisors LLC now owns 61 shares of the company's stock worth $104,000 after buying an additional 6 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of MercadoLibre by 4.0% during the 4th quarter. Cetera Investment Advisers now owns 5,476 shares of the company's stock worth $9,311,000 after buying an additional 213 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MELI shares. Citigroup dropped their target price on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Barclays cut their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Trading Down 0.0%

Shares of MercadoLibre stock traded down $0.31 on Friday, reaching $2,417.49. 493,478 shares of the company's stock were exchanged, compared to its average volume of 309,981. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The firm's 50-day moving average is $2,402.07 and its two-hundred day moving average is $2,302.70. The company has a market capitalization of $122.57 billion, a P/E ratio of 59.71, a price-to-earnings-growth ratio of 1.57 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 (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.48 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.