Ardsley Advisory Partners LP Raises Stake in MercadoLibre, Inc. $MELI

Key Points

• Ardsley Advisory Partners LP increased its stake in MercadoLibre by 221.9% in Q1, now holding 5,150 shares valued at over $10 million, making it the 13th largest position in their portfolio.
• MercadoLibre reported a 33.8% year-over-year revenue increase with $6.79 billion for the quarter but missed EPS estimates, reporting $10.31 against a forecast of $12.01.
• Brokerage firms have set new price targets for MercadoLibre, with Goldman Sachs raising their target to $3,000 and others maintaining positive ratings.

Ardsley Advisory Partners LP grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 221.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,150 shares of the company's stock after buying an additional 3,550 shares during the period. MercadoLibre accounts for about 1.9% of Ardsley Advisory Partners LP's holdings, making the stock its 13th biggest holding. Ardsley Advisory Partners LP's holdings in MercadoLibre were worth $10,047,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Key Financial Inc purchased a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Close Asset Management Ltd grew its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group grew its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.0%

MELI stock traded down $0.31 during mid-day trading on Friday, hitting $2,417.49. 493,478 shares of the company were exchanged, compared to its average volume of 300,482. The business has a fifty day simple moving average of $2,402.07 and a 200-day simple moving average of $2,301.37. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market capitalization of $122.57 billion, a P/E ratio of 59.71, a PEG ratio of 1.57 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the business posted $10.48 EPS. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MELI shares. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a report on Monday, June 2nd. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.