Titan Wealth CI Ltd Buys New Shares in MercadoLibre, Inc. $MELI

Key Points

• Titan Wealth CI Ltd initiated a new position in MercadoLibre in the fourth quarter, buying 2,156 shares valued at about $4.34 million. The stake represents roughly 1.7% of its portfolio and is its 29th-largest holding.
• Several other large institutional investors also increased their MercadoLibre holdings, and institutions now own 87.62% of the company. Separately, director Alejandro Nicolas Aguzin bought 600 shares in May, boosting his ownership by 12.62%.
• Analyst sentiment remains constructive overall, with MercadoLibre carrying a Moderate Buy consensus and an average price target of $2,255.33. The company recently missed EPS estimates but still posted 49% revenue growth year over year for the quarter.

Titan Wealth CI Ltd bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,156 shares of the company's stock, valued at approximately $4,343,000. MercadoLibre makes up about 1.7% of Titan Wealth CI Ltd's investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after acquiring an additional 164,120 shares during the last quarter. Capital Research Global Investors lifted its stake in 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 last quarter. Capital World Investors lifted its stake in MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company's stock valued at $4,067,194,000 after acquiring an additional 22,659 shares during the last quarter. Capital International Investors lifted its stake in MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company's stock valued at $1,432,565,000 after acquiring an additional 50,893 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BTIG Research reiterated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Tuesday, June 2nd. Wedbush cut their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Zacks Research cut shares of MercadoLibre from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 22nd. Benchmark cut 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. Finally, Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,255.33.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,674.08 on Wednesday. The firm has a 50-day moving average of $1,713.47 and a 200-day moving average of $1,867.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market cap of $84.88 billion, a PE ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter in the prior year, the business posted $9.74 EPS. The business's quarterly revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

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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