MercadoLibre, Inc. $MELI Stock Purchased by TrinityBridge Ltd

Key Points

• TrinityBridge increased its MercadoLibre stake by 19.4% in the third quarter, adding 703 shares to hold 4,327 shares valued at about $7.48 million. Institutional investors and hedge funds collectively own 87.62% of the stock.
• Analyst sentiment is broadly positive: 13 analysts rate MELI a Buy and five a Hold, giving it a consensus “Moderate Buy” rating and an average price target of $2,248.75.
• MercadoLibre’s latest reported quarter beat estimates, with EPS of $9.19 and revenue of $10.17 billion; revenue rose 49.8% year over year.

TrinityBridge Ltd increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,327 shares of the company's stock after purchasing an additional 703 shares during the period. TrinityBridge Ltd's holdings in MercadoLibre were worth $7,482,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MELI. BlackRock Inc. bought a new position in MercadoLibre during the 2nd quarter valued at $2,246,015,000. Jupiter Topco LLC acquired a new position in shares of MercadoLibre during the 2nd quarter valued at $917,123,000. Linonia Partnership LP raised its stake in shares of MercadoLibre by 325.1% in the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after buying an additional 423,527 shares in the last quarter. Royal Bank of Canada raised its stake in shares of MercadoLibre by 114.2% in the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company's stock worth $768,728,000 after buying an additional 237,008 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of MercadoLibre in the 2nd quarter worth $291,146,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. Citigroup upgraded MercadoLibre from a "neutral" rating to a "buy" rating and cut their price objective for the company from $2,100.00 to $2,050.00 in a report on Tuesday, October 27th. Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Susquehanna lifted their target price on MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a report on Tuesday, October 6th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Monday, October 12th. Finally, BTIG Research reissued a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, October 27th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,248.75.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,660.10 on Wednesday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,372.79. The stock has a fifty day moving average of $1,829.97 and a 200-day moving average of $1,811.70. The company has a market capitalization of $84.17 billion, a PE ratio of 45.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The company's revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company posted $10.31 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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