Tiger Global Management LLC Invests $233.43 Million in MercadoLibre, Inc. $MELI

Key Points

• Tiger Global Management disclosed a new position in MercadoLibre, buying 135,006 shares worth about $233.4 million. The stake represents about 1.0% of Tiger Global’s portfolio and roughly 0.27% of MercadoLibre’s shares.
• Analysts remain broadly positive but have trimmed price targets: MercadoLibre’s consensus rating is now “Moderate Buy” with an average target of $2,258.67. Several firms, including JPMorgan, Scotiabank, Barclays, and Benchmark, recently lowered their targets.
• MercadoLibre’s latest quarter showed revenue growth of 49% to $8.85 billion, but EPS of $8.23 missed expectations. Insider activity was also positive, with director Alejandro Nicolas Aguzin buying 600 shares in May.

Tiger Global Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 135,006 shares of the company's stock, valued at approximately $233,428,000. MercadoLibre makes up 1.0% of Tiger Global Management LLC's portfolio, making the stock its 22nd largest position. Tiger Global Management LLC owned about 0.27% of MercadoLibre at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $29,000. Finally, Curio Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $30,000. Institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Scotiabank lowered their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a research report on Thursday, May 7th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Finally, Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $2,258.67.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Up 0.2%

NASDAQ MELI opened at $1,801.44 on Friday. The stock's 50 day simple moving average is $1,705.94 and its 200 day simple moving average is $1,815.81. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The firm has a market cap of $91.33 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.74 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

MercadoLibre 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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