MercadoLibre, Inc. $MELI is Spear Holdings RSC Ltd's 8th Largest Position

Spear Holdings RSC Ltd grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 136.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,688 shares of the company's stock after buying an additional 22,360 shares during the period. MercadoLibre accounts for about 6.7% of Spear Holdings RSC Ltd's holdings, making the stock its 8th biggest holding. Spear Holdings RSC Ltd owned 0.08% of MercadoLibre worth $66,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Interchange Capital Partners LLC raised its holdings in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock valued at $490,000 after acquiring an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC grew its position in shares of MercadoLibre by 2.9% in the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock valued at $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. increased its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after purchasing an additional 5 shares during the last quarter. Strategic Advisors LLC increased its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock worth $605,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent research reports. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. BTIG Research reaffirmed a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,258.67.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,798.70 on Friday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a fifty day simple moving average of $1,700.85 and a two-hundred day simple moving average of $1,815.91. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a market cap of $91.19 billion, a price-to-earnings ratio of 47.47, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the firm posted $9.74 EPS. The firm's revenue for the quarter was up 49.0% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share 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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