Navi International Administradora e Gestora de Recursos Financeiros Ltda. Purchases 945 Shares of MercadoLibre, Inc. $MELI

Key Points

• Navi International increased its MercadoLibre position by 3.1% in the second quarter, adding 945 shares to hold 31,251 shares valued at approximately $53.0 million. MELI represented 36.6% of Navi’s portfolio and was its largest holding.
• Institutional investors own 87.62% of MercadoLibre, with several firms increasing their stakes and Deutsche Bank initiating a new position valued at about $279.4 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $2,272. MercadoLibre recently exceeded quarterly earnings and revenue estimates, reporting $9.19 in EPS and $10.17 billion in revenue, up 49.8% year over year.

Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 31,251 shares of the company's stock after acquiring an additional 945 shares during the period. MercadoLibre comprises approximately 36.6% of Navi International Administradora e Gestora de Recursos Financeiros Ltda.'s holdings, making the stock its biggest holding. Navi International Administradora e Gestora de Recursos Financeiros Ltda. owned 0.06% of MercadoLibre worth $53,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brown Advisory Inc. grew its holdings in MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock valued at $30,943,000 after purchasing an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock worth $4,089,000 after purchasing an additional 1,430 shares during the period. TIAA Trust National Association raised its stake in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC boosted its holdings in shares of MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $279,445,000. 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 a number of research analyst reports. 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. UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a report on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. raised 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. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,978.36 on Friday. The business's 50-day simple moving average is $1,859.43 and its 200 day simple moving average is $1,770.98. The company has a market cap of $100.30 billion, a P/E ratio of 53.80, a PEG ratio of 1.36 and a beta of 1.31. 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, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

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

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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