Titleist Asset Management LLC Has $1.12 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Titleist Asset Management LLC significantly decreased its stake in MercadoLibre, Inc. by 73.1%, selling 1,565 shares and ending up with 576 shares valued at $1,124,000.
• Several institutional investors have also adjusted their holdings in MercadoLibre, with 87.62% of the stock currently owned by these investors.
• Despite reporting lower earnings per share than expected, MercadoLibre's revenue grew by 33.8%, reflecting strong performance compared to the same quarter last year.

Titleist Asset Management LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 73.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 576 shares of the company's stock after selling 1,565 shares during the quarter. Titleist Asset Management LLC's holdings in MercadoLibre were worth $1,124,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pinnacle Wealth Planning Services Inc. acquired a new stake in MercadoLibre in the 1st quarter valued at about $242,000. Azora Capital LP bought a new position in MercadoLibre during the 1st quarter worth approximately $20,829,000. Stony Point Capital LLC boosted its stake in MercadoLibre by 130.2% during the 1st quarter. Stony Point Capital LLC now owns 6,649 shares of the company's stock worth $12,971,000 after acquiring an additional 3,761 shares during the last quarter. Magnetar Financial LLC boosted its stake in MercadoLibre by 1,939.2% during the 1st quarter. Magnetar Financial LLC now owns 3,854 shares of the company's stock worth $7,519,000 after acquiring an additional 3,665 shares during the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in MercadoLibre by 55.7% during the 1st quarter. Driehaus Capital Management LLC now owns 62,036 shares of the company's stock worth $121,024,000 after acquiring an additional 22,203 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $2,750.00 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, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $43.10 on Thursday, hitting $2,416.22. The company had a trading volume of 210,856 shares, compared to its average volume of 387,038. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $122.50 billion, a price-to-earnings ratio of 59.67, a P/E/G ratio of 1.61 and a beta of 1.49. The stock has a 50 day moving average price of $2,407.77 and a 200 day moving average price of $2,295.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current 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.