Jacobs Levy Equity Management Inc. Has $5.93 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in MercadoLibre, Inc. by 70.5%, now holding 3,038 shares worth approximately $5.93 million as of the latest SEC filing.
• Several institutional investors have increased their holdings in MercadoLibre, indicating that 87.62% of the company's stock is owned by these entities.
• MercadoLibre's recent earnings report showed a 33.8% year-over-year revenue increase despite missing earnings per share estimates, raising concerns among analysts about its future performance.

Jacobs Levy Equity Management Inc. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 70.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,038 shares of the company's stock after selling 7,266 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in MercadoLibre were worth $5,927,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Formidable Asset Management LLC grew its position in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after purchasing an additional 5 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after purchasing an additional 5 shares during the last quarter. Sonora Investment Management Group LLC grew its position in shares of MercadoLibre by 3.1% in the first quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after purchasing an additional 5 shares during the last quarter. Beacon Capital Management LLC grew its position in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after buying an additional 5 shares in the last quarter. Finally, Forum Financial Management LP grew its position in MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company's stock worth $388,000 after buying an additional 6 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Benchmark reissued a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. The Goldman Sachs Group increased their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned 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 Trading Down 2.9%

Shares of MELI stock opened at $2,346.96 on Tuesday. The stock's fifty day moving average price is $2,396.74 and its two-hundred day moving average price is $2,303.31. The company has a market cap of $118.98 billion, a PE ratio of 57.96, a P/E/G ratio of 1.57 and a beta of 1.49. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. 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 (NASDAQ:MELI - Get Free Report) last issued 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 business 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%. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.48 EPS. Equities 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.

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