Weitz Investment Management Inc. Buys 1,200 Shares of MercadoLibre, Inc. $MELI

Weitz Investment Management Inc. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,200 shares of the company's stock after acquiring an additional 1,200 shares during the quarter. MercadoLibre makes up 1.1% of Weitz Investment Management Inc.'s holdings, making the stock its 26th biggest position. Weitz Investment Management Inc.'s holdings in MercadoLibre were worth $15,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Bison Wealth LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $206,000. Empowered Funds LLC lifted its stake in MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company's stock valued at $1,483,000 after purchasing an additional 49 shares during the last quarter. Focus Partners Wealth grew its holdings in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company's stock valued at $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC bought a new position in MercadoLibre during the second quarter valued at $261,000. Finally, Gamco Investors INC. ET AL grew its holdings in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company's stock valued at $444,000 after purchasing an additional 30 shares during the period. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. 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 report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research note on Friday, May 8th. Finally, Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,272.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,922.73 on Friday. The business's 50-day moving average price is $1,793.05 and its two-hundred day moving average price is $1,775.94. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The stock has a market cap of $97.48 billion, a P/E ratio of 52.29, a PEG ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business's quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $10.31 EPS. As a group, equities analysts predict that MercadoLibre, Inc. will post 39.11 EPS 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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