Parkwood LLC Increases Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Parkwood LLC significantly increased its stake in MercadoLibre, Inc. (MELI) by 69.9% during the first quarter, holding 9,218 shares valued at approximately $17.98 million.
• MercadoLibre reported quarterly earnings of $10.31 per share, which was below analyst expectations, despite revenue rising 33.8% year-over-year to $6.79 billion.
• Melí currently has a consensus rating of "Moderate Buy" with a target price averaging $2,817.22 from various analysts, despite Barclays lowering its price target from $3,100 to $3,000.

Parkwood LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 69.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,218 shares of the company's stock after purchasing an additional 3,792 shares during the quarter. MercadoLibre accounts for approximately 1.6% of Parkwood LLC's investment portfolio, making the stock its 24th largest position. Parkwood LLC's holdings in MercadoLibre were worth $17,983,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Key Financial Inc bought a new position in shares of MercadoLibre in the 1st quarter valued at $25,000. GW&K Investment Management LLC bought a new position in shares of MercadoLibre in the first quarter worth about $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Close Asset Management Ltd lifted its holdings in shares of MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Raymond James Financial reissued a "strong-buy" rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Barclays dropped their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Stock Up 1.1%

NASDAQ:MELI traded up $26.05 on Tuesday, hitting $2,373.01. The stock had a trading volume of 267,552 shares, compared to its average volume of 331,867. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The business's fifty day moving average is $2,394.17 and its 200 day moving average is $2,303.80. The company has a market cap of $120.31 billion, a PE ratio of 58.61, a P/E/G ratio of 1.53 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company's revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.48 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.