Linonia Partnership LP Has $939.99 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Linonia Partnership LP increased its MercadoLibre stake by 325.1% in the second quarter, purchasing 423,527 additional shares. Its 553,788-share position was worth approximately $939.99 million and represented 16.8% of its portfolio.
• Institutional ownership remains high at 87.62%, while analysts maintain a “Moderate Buy” consensus with an average price target of $2,272. Eleven analysts rate the stock a Buy, compared with six Holds.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus $8.65 expected and $10.17 billion in revenue, up 49.8% year over year. The stock opened at $1,997, with a market capitalization of about $101.25 billion.

Linonia Partnership LP grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 325.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 553,788 shares of the company's stock after purchasing an additional 423,527 shares during the quarter. MercadoLibre comprises about 16.8% of Linonia Partnership LP's portfolio, making the stock its biggest holding. Linonia Partnership LP owned about 1.09% of MercadoLibre worth $939,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $29,000. Route One Investment Company L.P. increased its holdings in MercadoLibre by 46.4% during the second quarter. Route One Investment Company L.P. now owns 65,560 shares of the company's stock worth $111,281,000 after buying an additional 20,775 shares during the last quarter. ABS Investment Management LLC acquired a new position in MercadoLibre during the second quarter worth $6,272,000. Kapitalo Investimentos Ltda acquired a new position in MercadoLibre during the second quarter worth $772,000. Finally, Eschler Asset Management LLP raised its position in MercadoLibre by 22.8% during the second quarter. Eschler Asset Management LLP now owns 921 shares of the company's stock worth $1,563,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank cut their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. BTIG Research reaffirmed a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research note on Wednesday, May 13th. Finally, Benchmark reduced their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Up 2.5%

MercadoLibre stock opened at $1,997.00 on Wednesday. The stock has a market cap of $101.25 billion, a P/E ratio of 54.31, a P/E/G ratio of 1.33 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company's 50-day moving average price is $1,805.54 and its two-hundred day moving average price is $1,771.87.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 earnings per share. The business's revenue was up 49.8% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current year.

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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