MercadoLibre, Inc. $MELI Holdings Cut by Carmignac Gestion

Key Points

• Carmignac Gestion reduced its MercadoLibre stake by 23.8% in the second quarter, selling 59,357 shares and retaining 190,098 shares valued at approximately $322.6 million.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Hold ratings. MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,272.
• Despite shares falling 2.6% to $1,926.25, MercadoLibre exceeded quarterly expectations with EPS of $9.19 and revenue of $10.17 billion, up 49.8% year over year.

Carmignac Gestion reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,098 shares of the company's stock after selling 59,357 shares during the period. MercadoLibre accounts for about 4.1% of Carmignac Gestion's investment portfolio, making the stock its 10th largest position. Carmignac Gestion owned about 0.37% of MercadoLibre worth $322,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Nykredit A S acquired a new stake in shares of MercadoLibre during the second quarter worth $43,261,000. Allianz Asset Management GmbH increased its stake in MercadoLibre by 72.5% in the second quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company's stock valued at $174,176,000 after purchasing an additional 43,130 shares during the last quarter. Amundi lifted its position in MercadoLibre by 8.9% during the second quarter. Amundi now owns 192,893 shares of the company's stock worth $327,415,000 after buying an additional 15,797 shares during the period. Carlson Financial Inc. boosted its stake in MercadoLibre by 5.5% in the 2nd quarter. Carlson Financial Inc. now owns 210 shares of the company's stock worth $356,000 after buying an additional 11 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in MercadoLibre by 176,119.7% in the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock worth $203,454,074,000 after buying an additional 119,794,873 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MELI shares. UBS Group dropped their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Finally, Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Trading Down 2.6%

Shares of NASDAQ MELI traded down $52.11 during midday trading on Tuesday, hitting $1,926.25. The stock had a trading volume of 351,259 shares, compared to its average volume of 524,563. The company has a market capitalization of $97.66 billion, a price-to-earnings ratio of 52.39, a PEG ratio of 1.36 and a beta of 1.31. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average price of $1,869.91 and a 200 day moving average price of $1,768.88.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results 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 business 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 business earned $10.31 EPS. The company's revenue for the quarter was up 49.8% on a year-over-year basis. On average, analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share 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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