WINTON GROUP Ltd Raises Stake in MercadoLibre, Inc. $MELI

Key Points

• WINTON GROUP Ltd increased its MercadoLibre stake by 9.3% in the second quarter, bringing its holdings to 8,620 shares valued at approximately $14.6 million. Institutional investors collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and six Holds. MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in earnings per share versus $8.65 expected and revenue of $10.17 billion, up 49.8% year over year.

WINTON GROUP Ltd increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,620 shares of the company's stock after acquiring an additional 730 shares during the period. WINTON GROUP Ltd's holdings in MercadoLibre were worth $14,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the 4th quarter valued at approximately $28,000. Wedbush Fund Advisers LLC bought a new position in MercadoLibre during the 2nd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre during the second quarter valued at $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a report on Thursday, July 2nd. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 11th. Citigroup raised 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 note on Wednesday, July 15th. Finally, Cantor Fitzgerald lifted their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Stock Down 2.6%

Shares of MercadoLibre stock opened at $1,876.33 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company's 50 day moving average is $1,872.60 and its 200 day moving average is $1,768.04. The company has a market cap of $95.13 billion, a price-to-earnings ratio of 51.03, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.31 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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