MercadoLibre, Inc. $MELI Shares Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its MercadoLibre stake by 399.6% in the first quarter, ending with 9,408 shares valued at approximately $16.3 million. Institutional investors collectively own 87.62% of MELI.
• MercadoLibre reported quarterly revenue of $8.85 billion, up 49% year over year and above estimates, but earnings per share of $8.23 missed the $8.75 consensus forecast.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $2,258.67, although several firms recently lowered targets or downgraded the stock. Director Alejandro Nicolas Aguzin also purchased 600 shares for nearly $1 million.

Empowered Funds LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 399.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,408 shares of the company's stock after buying an additional 7,525 shares during the quarter. Empowered Funds LLC's holdings in MercadoLibre were worth $16,267,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in MercadoLibre during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 2.4%

Shares of NASDAQ:MELI opened at $1,862.52 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The business has a 50 day moving average of $1,715.97 and a two-hundred day moving average of $1,808.77. The company has a market capitalization of $94.43 billion, a PE ratio of 49.16, a PEG ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the previous year, the business earned $9.74 EPS. As a group, analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.26% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MELI. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a report on Friday, May 8th. UBS Group reduced their price objective on 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. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. BTIG Research reissued a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, Daiwa Securities Group lowered shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $2,258.67.

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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