MercadoLibre, Inc. $MELI is Nellore Capital Management LLC's 2nd Largest Position

Key Points

• Nellore Capital Management increased its MercadoLibre stake by 24.7% in the second quarter to 89,704 shares valued at approximately $152.3 million, making MELI the fund’s second-largest position and 16.9% of its portfolio.
• Institutional interest remains strong, with hedge funds and other institutions owning 87.62% of MercadoLibre’s shares; several major investors, including Capital Research and BlackRock, also expanded or initiated positions.
• MercadoLibre reported quarterly earnings of $9.19 per share and revenue of $10.17 billion, exceeding analyst estimates, while revenue grew 49.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,272.

Nellore Capital Management LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 24.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,704 shares of the company's stock after acquiring an additional 17,749 shares during the quarter. MercadoLibre comprises 16.9% of Nellore Capital Management LLC's portfolio, making the stock its 2nd biggest position. Nellore Capital Management LLC owned about 0.18% of MercadoLibre worth $152,263,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MELI. Capital Research Global Investors grew its holdings in shares of MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors increased its position in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after buying an additional 137,100 shares during the period. BlackRock Inc. purchased a new position in MercadoLibre in the second quarter valued at approximately $2,246,015,000. Finally, Janus Henderson Group PLC lifted its position in MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock valued at $1,062,019,000 after buying an additional 10,142 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BTIG Research reissued a "buy" rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald boosted their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Trading Up 2.2%

MELI opened at $2,006.58 on Thursday. The firm's 50 day moving average is $1,845.93 and its 200-day moving average is $1,769.50. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week 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 firm has a market capitalization of $101.73 billion, a P/E ratio of 54.57, a P/E/G ratio of 1.35 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.31 earnings per share. Analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

About MercadoLibre

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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