United Capital Financial Advisors LLC Makes New $1.35 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• United Capital Financial Advisors initiated a MercadoLibre position in the second quarter, purchasing 794 shares valued at approximately $1.35 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and EPS of $9.19, exceeding analyst expectations of $8.65.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $2,272, compared with the stock’s reported price of $1,966.25.

United Capital Financial Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 794 shares of the company's stock, valued at approximately $1,348,000.

Other institutional investors have also bought and sold shares of the company. Capital Research Global Investors raised its stake 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 valued at $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors lifted its stake in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock worth $3,474,880,000 after purchasing an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock valued at $3,188,718,000 after acquiring an additional 137,100 shares in the last quarter. BlackRock Inc. bought a new stake in MercadoLibre during the second quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 1.7% in the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after buying an additional 10,142 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,966.25 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The business has a 50 day simple moving average of $1,824.45 and a 200-day simple moving average of $1,772.36. The firm has a market capitalization of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.35 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the firm earned $10.31 earnings per share. The firm's quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. BTIG Research reaffirmed a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Scotiabank cut their target price on shares of 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. Finally, Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,272.00.

About MercadoLibre

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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