Axiom Investors LLC DE Lowers Holdings in MercadoLibre, Inc. $MELI

Key Points

• Axiom Investors LLC DE reduced its stake in MercadoLibre, Inc. by 16.8% during the first quarter, holding approximately 0.14% of the company worth $136.2 million after selling over 14,000 shares.
• Analysts have mixed opinions on MercadoLibre, with Barclays lowering its price target from $3,100 to $3,000, while JPMorgan raised it from $2,600 to $2,700, resulting in a current consensus target price of $2,817.22.
• Despite missing earnings estimates with an EPS of $10.31, MercadoLibre reported 33.8% year-over-year revenue growth of $6.79 billion in its latest quarter.

Axiom Investors LLC DE cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,819 shares of the company's stock after selling 14,113 shares during the period. MercadoLibre comprises about 1.3% of Axiom Investors LLC DE's portfolio, making the stock its 26th biggest position. Axiom Investors LLC DE owned about 0.14% of MercadoLibre worth $136,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MELI. Key Financial Inc acquired a new stake in MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new position in MercadoLibre in the first quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Close Asset Management Ltd lifted its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating for the company in a report on Monday, August 18th. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price for the company. Finally, Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Price Performance

Shares of MELI stock traded up $0.12 during mid-day trading on Thursday, reaching $2,349.11. The stock had a trading volume of 178,299 shares, compared to its average volume of 388,705. The company has a market cap of $119.10 billion, a P/E ratio of 58.07, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The business has a 50-day simple moving average of $2,391.71 and a 200 day simple moving average of $2,304.11. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

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 analysts' consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $10.48 EPS. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company 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.