Thoroughbred Financial Services LLC Has $8.32 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Thoroughbred Financial Services LLC increased its stake in MercadoLibre by 5.9% in the first quarter, now owning 4,262 shares with a total value of approximately $8.31 million.
• MercadoLibre's recent quarterly earnings showed an EPS of $10.31, missing the consensus estimate, but its revenue of $6.79 billion exceeded expectations with a year-over-year increase of 33.8%.
• Analysts have mixed ratings for MercadoLibre, with thirteen analysts rating it as a buy and a price target average of $2,707.50, indicating positive outlook despite recent earnings miss.

Thoroughbred Financial Services LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,262 shares of the company's stock after purchasing an additional 238 shares during the period. Thoroughbred Financial Services LLC's holdings in MercadoLibre were worth $8,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Capital International Investors increased its position in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors increased its position in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. Capital Research Global Investors increased its position in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after acquiring an additional 173,449 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MELI shares. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and set a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $2,795.00.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded up $17.60 on Thursday, hitting $2,334.82. The stock had a trading volume of 352,014 shares, compared to its average volume of 351,713. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm's 50 day moving average price is $2,441.77 and its 200-day moving average price is $2,238.33. The company has a market capitalization of $118.38 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly 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). The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%. The firm's quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $10.48 EPS. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.