MercadoLibre, Inc. $MELI Shares Sold by Greenland Capital Management LP

Key Points

• Greenland Capital Management cut its MercadoLibre stake by 52.2% in the second quarter, selling 1,060 shares and retaining 970 shares valued at approximately $1.65 million.
• Institutional ownership remains significant at 87.62%, with BlackRock and Jupiter Topco initiating major positions while Linonia Partnership and Capital Research Global Investors increased their holdings.
• Analysts maintain a broadly positive outlook, with a consensus “Moderate Buy” rating and average price target of $2,272. MercadoLibre also exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue, up 49.8% year over year.

Greenland Capital Management LP reduced its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 970 shares of the company's stock after selling 1,060 shares during the quarter. Greenland Capital Management LP's holdings in MercadoLibre were worth $1,646,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in MercadoLibre in the second quarter worth $2,246,015,000. Jupiter Topco LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $917,123,000. Linonia Partnership LP lifted its holdings in MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Capital Research Global Investors boosted its position in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Finally, Norges Bank acquired a new position in MercadoLibre in the fourth quarter valued at $597,045,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several research analyst reports. Cantor Fitzgerald upped their price target 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. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,978.36 on Monday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock has a market cap of $100.30 billion, a price-to-earnings ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The company has a 50-day moving average price of $1,859.43 and a two-hundred day moving average price of $1,769.45. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

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

MercadoLibre Company Profile

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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