MercadoLibre, Inc. $MELI is ABS Direct Equity Fund LLC's 4th Largest Position

ABS Direct Equity Fund LLC increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 27.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,695 shares of the company's stock after purchasing an additional 785 shares during the quarter. MercadoLibre accounts for about 5.5% of ABS Direct Equity Fund LLC's investment portfolio, making the stock its 4th largest holding. ABS Direct Equity Fund LLC's holdings in MercadoLibre were worth $6,272,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in MercadoLibre by 176,119.7% during the second quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock valued at $203,454,074,000 after buying an additional 119,794,873 shares in the last quarter. BlackRock Inc. acquired a new position in shares of MercadoLibre during the second quarter worth about $2,246,015,000. Jupiter Topco LLC purchased a new stake in shares of MercadoLibre in the second quarter worth about $917,123,000. Linonia Partnership LP boosted its position in shares of MercadoLibre by 325.1% in the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after buying an additional 423,527 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the topic of several analyst reports. Citigroup raised their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. BTIG Research reiterated a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, Cantor Fitzgerald boosted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Trading Up 1.6%

MELI opened at $1,906.24 on Friday. The stock has a market capitalization of $96.65 billion, a PE ratio of 51.84, a P/E/G ratio of 1.29 and a beta of 1.31. The firm's fifty day moving average price is $1,875.45 and its 200 day moving average price is $1,767.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period last year, the business earned $10.31 EPS. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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