Spear Holdings RSC Ltd Has $33.32 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Spear Holdings RSC Ltd increased its stake in MercadoLibre, Inc. by 36.5% during Q2, owning a total of 12,750 shares valued at approximately $33.32 million.
• Multiple institutional investors, including Assenagon Asset Management and Invesco Ltd., significantly increased their positions in MercadoLibre, with 87.62% of the stock now held by institutional investors.
• MercadoLibre reported $10.31 EPS in its latest earnings, missing estimates, but also achieved a 33.8% year-over-year revenue growth with a total revenue of $6.79 billion.

Spear Holdings RSC Ltd raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 36.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,750 shares of the company's stock after buying an additional 3,410 shares during the quarter. MercadoLibre comprises 2.4% of Spear Holdings RSC Ltd's portfolio, making the stock its 17th biggest position. Spear Holdings RSC Ltd's holdings in MercadoLibre were worth $33,324,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MELI. Assenagon Asset Management S.A. grew its stake in MercadoLibre by 170.9% in the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after acquiring an additional 173,449 shares during the period. Invesco Ltd. grew its stake in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC grew its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after acquiring an additional 87,912 shares during the period. Finally, Nuveen LLC acquired a new position in MercadoLibre in the first quarter valued at about $143,367,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays decreased their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a research report on Saturday, September 27th. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,822.78.

MercadoLibre Stock Down 0.9%

MELI stock opened at $2,154.22 on Tuesday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $109.22 billion, a P/E ratio of 53.20, a P/E/G ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The business has a 50-day moving average of $2,378.30 and a 200-day moving average of $2,345.89.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the company posted $10.48 EPS. The business's revenue was up 33.8% on a year-over-year basis. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.

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