MercadoLibre, Inc. $MELI Shares Acquired by Altimeter Capital Management LP

Altimeter Capital Management LP increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 81.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,480 shares of the company’s stock after acquiring an additional 30,639 shares during the period. MercadoLibre makes up about 2.1% of Altimeter Capital Management LP’s investment portfolio, making the stock its 14th biggest position. Altimeter Capital Management LP owned approximately 0.14% of MercadoLibre worth $137,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. 14B Captial Management LP acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $3,767,000. 3G Capital Partners LP grew its holdings in MercadoLibre by 42.9% during the 4th quarter. 3G Capital Partners LP now owns 25,000 shares of the company’s stock valued at $50,356,000 after buying an additional 7,500 shares during the last quarter. 7G Capital Management LLC grew its holdings in MercadoLibre by 400.0% during the 4th quarter. 7G Capital Management LLC now owns 500 shares of the company’s stock valued at $1,007,000 after buying an additional 400 shares during the last quarter. 9823 Capital L.P. acquired a new stake in MercadoLibre during the 4th quarter valued at $294,000. Finally, Freestone Grove Partners LP acquired a new stake in MercadoLibre during the 4th quarter valued at $246,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MELI shares. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. Benchmark lowered their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Trading Down 2.5%

Shares of MercadoLibre stock opened at $1,631.82 on Thursday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The firm has a market cap of $82.73 billion, a PE ratio of 43.07, a P/E/G ratio of 1.03 and a beta of 1.36. The business’s fifty day moving average is $1,711.90 and its two-hundred day moving average is $1,864.64. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share 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 business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the company earned $9.74 EPS. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share 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.