Route One Investment Company L.P. Has $111.28 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Route One Investment Company increased its MercadoLibre stake by 46.4% in the second quarter, reaching 65,560 shares valued at approximately $111.28 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly earnings of $9.19 per share and revenue of $10.17 billion, beating analyst expectations; revenue increased 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, despite some recent target-price reductions.

Route One Investment Company L.P. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 46.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,560 shares of the company's stock after buying an additional 20,775 shares during the quarter. MercadoLibre accounts for about 4.5% of Route One Investment Company L.P.'s investment portfolio, making the stock its 10th largest position. Route One Investment Company L.P. owned about 0.13% of MercadoLibre worth $111,281,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in shares of MercadoLibre by 22.5% in the fourth 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 period. Capital International Investors increased its position in MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after acquiring an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock worth $3,188,718,000 after acquiring an additional 137,100 shares during the period. BlackRock Inc. acquired a new position in MercadoLibre during the 2nd quarter valued at $2,246,015,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock valued at $1,062,019,000 after purchasing an additional 10,142 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 2.5%

Shares of NASDAQ:MELI opened at $1,997.00 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market cap of $101.25 billion, a P/E ratio of 54.31, a P/E/G ratio of 1.33 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company's 50-day moving average price is $1,805.54 and its two-hundred day moving average price is $1,771.87.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 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 analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company earned $10.31 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MELI shares. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Benchmark reduced their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Citigroup boosted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Daiwa Securities Group lowered 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. Finally, Scotiabank reduced their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.

About MercadoLibre

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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