Marcho Partners LLP Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Marcho Partners LLP reduced its holdings in MercadoLibre, Inc. by 23.1%, owning 33,105 shares after selling 9,927 shares, making it the firm's largest holding.
• Several institutional investors, including E Fund Management Co. Ltd. and Caitong International Asset Management Co. Ltd., significantly boosted their stakes in MercadoLibre during the first quarter, reflecting increased interest in the stock.
• MercadoLibre's latest earnings report showed a miss on EPS expectations, with reported earnings of $10.31 against a consensus estimate of $12.01, despite a revenue increase of 33.8% year-over-year.

Marcho Partners LLP trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,105 shares of the company's stock after selling 9,927 shares during the period. MercadoLibre makes up approximately 23.7% of Marcho Partners LLP's holdings, making the stock its largest holding. Marcho Partners LLP owned approximately 0.07% of MercadoLibre worth $64,584,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. increased its stake in MercadoLibre by 114.9% during the first quarter. E Fund Management Co. Ltd. now owns 1,296 shares of the company's stock valued at $2,528,000 after acquiring an additional 693 shares during the period. Financial Network Wealth Advisors LLC increased its stake in MercadoLibre by 127.3% during the first quarter. Financial Network Wealth Advisors LLC now owns 25 shares of the company's stock valued at $49,000 after acquiring an additional 14 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in MercadoLibre by 3.0% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,430 shares of the company's stock valued at $2,790,000 after acquiring an additional 42 shares during the period. Triglav Skladi D.O.O. acquired a new position in shares of MercadoLibre in the 1st quarter worth approximately $4,360,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in shares of MercadoLibre by 1,190.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 929 shares of the company's stock worth $1,812,000 after acquiring an additional 857 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MELI shares. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Benchmark reaffirmed a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna reaffirmed 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, Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,795.00.

MercadoLibre Price Performance

MELI stock opened at $2,350.83 on Wednesday. The stock has a 50-day moving average price of $2,426.54 and a two-hundred day moving average price of $2,251.59. The stock has a market cap of $119.19 billion, a PE ratio of 58.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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 firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company posted $10.48 EPS. Equities analysts forecast 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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