Kemnay Advisory Services Inc. Purchases 1,385 Shares of MercadoLibre, Inc. $MELI

Key Points

• Kemnay Advisory Services increased its MercadoLibre stake by 32.7% in the fourth quarter, buying 1,385 shares and bringing its total to 5,623 shares valued at about $11.3 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 87.62% of MercadoLibre’s stock; several firms, including Capital Research and Baillie Gifford, also boosted their positions.
• MercadoLibre shares were trading up 1.7% at $1,674.08, while the company’s latest earnings beat on revenue but missed on EPS, and analysts currently rate the stock a Moderate Buy with an average target price of $2,255.33.

Kemnay Advisory Services Inc. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,623 shares of the company's stock after acquiring an additional 1,385 shares during the period. MercadoLibre accounts for approximately 1.7% of Kemnay Advisory Services Inc.'s portfolio, making the stock its 17th largest holding. Kemnay Advisory Services Inc.'s holdings in MercadoLibre were worth $11,326,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MELI. Capital Research Global Investors lifted its position in shares of MercadoLibre by 22.5% during 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 in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 803.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company's stock worth $671,665,000 after acquiring an additional 296,543 shares in the last quarter. Norges Bank purchased a new stake in shares of MercadoLibre during the fourth quarter worth $597,045,000. Marshall Wace LLP lifted its position in shares of MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company's stock worth $628,083,000 after acquiring an additional 202,322 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock worth $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 1.7%

Shares of MELI stock opened at $1,674.08 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a market capitalization of $84.88 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The business's fifty day moving average is $1,713.47 and its 200 day moving average is $1,867.47.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analysts' expectations of $8.29 billion. During the same quarter last year, the business posted $9.74 EPS. The company's quarterly revenue was up 49.0% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MELI shares. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Itau BBA Securities restated an "outperform" rating on shares of MercadoLibre in a research report on Wednesday, February 25th. BTIG Research restated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Barclays dropped their target price 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. Finally, Cantor Fitzgerald dropped their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,255.33.

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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.