Sycale Advisors NY LLC Sells 1,615 Shares of MercadoLibre, Inc. $MELI

Key Points

• Sycale Advisors NY LLC reduced its MercadoLibre position by 20.4% in the second quarter, selling 1,615 shares and retaining 6,306 shares valued at approximately $10.7 million.
• Institutional ownership remains high at 87.62%, with BlackRock initiating a roughly $2.25 billion stake and several other major investors increasing their holdings.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS and $10.17 billion in revenue, up 49.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $2,272.

Sycale Advisors NY LLC lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,306 shares of the company's stock after selling 1,615 shares during the quarter. MercadoLibre accounts for 3.3% of Sycale Advisors NY LLC's portfolio, making the stock its 11th biggest holding. Sycale Advisors NY LLC's holdings in MercadoLibre were worth $10,704,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MELI. BlackRock Inc. purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $2,246,015,000. Capital Research Global Investors boosted its holdings 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 worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Norges Bank bought a new stake in MercadoLibre during the fourth quarter valued at approximately $597,045,000. Royal Bank of Canada grew its position in MercadoLibre by 114.2% during the first quarter. Royal Bank of Canada now owns 444,603 shares of the company's stock valued at $768,728,000 after buying an additional 237,008 shares during the period. Finally, Marshall Wace LLP increased its holdings in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company's stock valued at $628,083,000 after buying an additional 202,322 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,921.96 on Friday. The company has a market cap of $97.44 billion, a P/E ratio of 52.27, a P/E/G ratio of 1.31 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The firm's fifty day moving average is $1,786.39 and its two-hundred day moving average is $1,774.91.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly 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. The company had revenue of $10.17 billion during 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 firm's revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the company earned $10.31 earnings per share. As a group, analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MELI. Morgan Stanley decreased their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Scotiabank reduced their price target 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. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, August 6th. UBS Group decreased their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Finally, Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

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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