Parvin Asset Management LLC Buys New Shares in MercadoLibre, Inc. $MELI

Key Points

• Parvin Asset Management initiated a MercadoLibre position in the second quarter by purchasing 606 shares valued at approximately $1.03 million. Institutional investors collectively own 87.62% of the company.
• Analyst sentiment remains positive overall, with 11 Buy ratings and six Holds producing a consensus “Moderate Buy” rating and an average price target of $2,272, despite several recent target-price reductions.
• MercadoLibre exceeded quarterly expectations, reporting EPS of $9.19 versus $8.65 expected and revenue of $10.17 billion versus $9.79 billion estimated. Revenue increased 49.8% year over year.

Parvin Asset Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 606 shares of the company's stock, valued at approximately $1,029,000.

A number of other institutional investors have also bought and sold shares of MELI. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter valued at approximately $28,000. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Finally, Darwin Wealth Management LLC purchased a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MELI. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Finally, Daiwa Securities Group cut shares of MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 target price for the company. in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,950.44 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The business has a 50 day simple moving average of $1,811.91 and a two-hundred day simple moving average of $1,771.27. The stock has a market capitalization of $98.89 billion, a PE ratio of 53.04, a P/E/G ratio of 1.37 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating 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 the consensus estimate of $9.79 billion. During the same period in the prior year, the company earned $10.31 EPS. The company's quarterly revenue was up 49.8% compared to the same quarter last year. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

MercadoLibre Company 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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