Leo Wealth LLC Increases Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Leo Wealth LLC significantly increased its position in MercadoLibre, boosting stock holdings by 279% to a total of 777 shares, with a valuation of approximately $2.03 million.
• Several large investors, including Assenagon Asset Management and Invesco, raised their stakes in MercadoLibre, indicating strong institutional interest with 87.62% of the stock now owned by hedge funds and institutional investors.
• MercadoLibre reported $10.31 earnings per share for the last quarter, missing analyst expectations, but achieved revenue growth of 33.8% year-over-year, amounting to $6.79 billion.

Leo Wealth LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 279.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 777 shares of the company's stock after purchasing an additional 572 shares during the period. Leo Wealth LLC's holdings in MercadoLibre were worth $2,031,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MELI. Assenagon Asset Management S.A. lifted its position in shares of MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after buying an additional 173,449 shares in the last quarter. Invesco Ltd. lifted its position in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after buying an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after buying an additional 96,283 shares in the last quarter. GQG Partners LLC lifted its position in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after buying an additional 87,912 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at about $143,367,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MELI shares. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Raymond James Financial reissued a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Benchmark reissued a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price target on the stock. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,822.78.

MercadoLibre Stock Down 0.4%

Shares of MELI opened at $2,179.89 on Thursday. The stock has a market capitalization of $110.51 billion, a price-to-earnings ratio of 53.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The business's 50 day simple moving average is $2,370.32 and its 200-day simple moving average is $2,343.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm's revenue was up 33.8% on a year-over-year basis. During the same period last year, the company earned $10.48 earnings per share. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share 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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