Pangea Capital Gestao de Recursos Ltda. Purchases New Position in MercadoLibre, Inc. $MELI

Key Points

• Pangea Capital Gestao de Recursos acquired 1,800 MercadoLibre shares worth approximately $3.1 million in the first quarter, making MELI its third-largest holding at 2.4% of the portfolio.
• MercadoLibre reported quarterly revenue of $8.85 billion, up 49% year over year and above estimates, but earnings of $8.23 per share fell short of the $8.75 consensus.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $2,258.67, despite several recent target-price cuts and one downgrade to “Hold.”

Pangea Capital Gestao de Recursos Ltda. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,800 shares of the company's stock, valued at approximately $3,112,000. MercadoLibre makes up about 2.4% of Pangea Capital Gestao de Recursos Ltda.'s investment portfolio, making the stock its 3rd biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. boosted its stake in shares of MercadoLibre by 2,494.9% during 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 in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after buying an additional 1,430 shares during the period. TIAA Trust National Association raised its stake in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock worth $22,179,000 after buying an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC raised its stake in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock worth $15,641,000 after buying an additional 2,164 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its holdings in MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company's stock worth $80,941,000 after buying an additional 6,200 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,877.95 on Monday. The business's fifty day simple moving average is $1,728.64 and its 200-day simple moving average is $1,802.56. The company has a market cap of $95.21 billion, a PE ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the business earned $9.74 EPS. The firm's revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Morgan Stanley decreased their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Daiwa Securities Group lowered shares of 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. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,258.67.

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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