Maverick Capital Ltd. Acquires 2,003 Shares of MercadoLibre, Inc. $MELI

Key Points

• Maverick Capital Ltd. increased its holdings in MercadoLibre, Inc. by 11.8% in Q1, purchasing an additional 2,003 shares to bring its total to 18,924 shares, valued at approximately $36.9 million.
• Several hedge funds have recently modified their positions in MercadoLibre, with institutional investors now holding 87.62% of the stock.
• Wall Street analysts have mixed ratings for MercadoLibre, with JPMorgan and others raising price targets, while the stock has a Moderate Buy rating and an average price target of $2,817.22.

Maverick Capital Ltd. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,924 shares of the company's stock after purchasing an additional 2,003 shares during the period. Maverick Capital Ltd.'s holdings in MercadoLibre were worth $36,918,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Bank Pictet & Cie Europe AG acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $561,000. AQR Capital Management LLC raised its position in shares of MercadoLibre by 32.0% during the 4th quarter. AQR Capital Management LLC now owns 10,791 shares of the company's stock valued at $18,350,000 after acquiring an additional 2,618 shares in the last quarter. Comerica Bank increased its position in MercadoLibre by 22.4% in the fourth quarter. Comerica Bank now owns 2,398 shares of the company's stock worth $4,078,000 after buying an additional 439 shares during the period. Bison Wealth LLC acquired a new stake in MercadoLibre in the fourth quarter worth $206,000. Finally, Aptus Capital Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at $284,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Down 0.0%

NASDAQ:MELI traded down $0.31 during trading hours on Friday, hitting $2,417.49. 493,303 shares of the company were exchanged, compared to its average volume of 388,226. The company has a fifty day simple moving average of $2,404.92 and a 200 day simple moving average of $2,297.62. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $122.57 billion, a price-to-earnings ratio of 59.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm 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 business's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.48 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Citigroup decreased their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Company Profile

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.