MercadoLibre, Inc. $MELI Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its MercadoLibre stake by 10.6% in the second quarter, selling 3,962 shares and retaining 33,392 shares worth approximately $56.7 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 EPS and $10.17 billion in revenue; revenue increased 49.8% year over year. Analysts project full-year EPS of $39.11.
• Analyst sentiment remains favorable, with 11 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $2,272, above the stock’s reported $1,922.73 price.

Korea Investment CORP cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,392 shares of the company's stock after selling 3,962 shares during the quarter. Korea Investment CORP owned about 0.07% of MercadoLibre worth $56,679,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the second quarter worth $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.0%

NASDAQ:MELI opened at $1,922.73 on Friday. The business has a fifty day moving average of $1,793.05 and a 200-day moving average of $1,775.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

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

Analyst Ratings Changes

Several research analysts have weighed in on MELI shares. JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a report on Monday, May 11th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Finally, UBS Group reduced their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre 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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