National Pension Service Grows Holdings in MercadoLibre, Inc. $MELI

Key Points

• National Pension Service increased its MercadoLibre stake by 6.7% in the second quarter, ending with 116,125 shares worth approximately $197.1 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus an $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $2,272, compared with the stock’s reported price of $1,906.24.

National Pension Service grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 116,125 shares of the company's stock after buying an additional 7,328 shares during the quarter. National Pension Service owned 0.23% of MercadoLibre worth $197,109,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its holdings in shares of MercadoLibre by 176,119.7% during the 2nd quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock valued at $203,454,074,000 after buying an additional 119,794,873 shares in the last quarter. BlackRock Inc. bought a new position in shares of MercadoLibre during the 2nd quarter valued at $2,246,015,000. Jupiter Topco LLC bought a new stake in MercadoLibre in the second quarter worth $917,123,000. Linonia Partnership LP grew its stake in shares of MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after buying an additional 423,527 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after acquiring an additional 408,939 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MELI stock opened at $1,906.24 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The stock's 50 day simple moving average is $1,875.45 and its 200 day simple moving average is $1,767.40. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $96.65 billion, a PE ratio of 51.84, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 5.30% and a return on equity of 26.54%. The business's quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the firm posted $10.31 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. BTIG Research restated a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, September 3rd. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Citigroup lifted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Cantor Fitzgerald lifted 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, Zacks Research raised MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.

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 began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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