3G Capital Partners LP Has $50.36 Million Stock Holdings in MercadoLibre, Inc. $MELI

3G Capital Partners LP grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 42.9% in the 4th quarter, Holdings Channel reports. The fund owned 25,000 shares of the company’s stock after purchasing an additional 7,500 shares during the quarter. MercadoLibre accounts for 11.9% of 3G Capital Partners LP’s portfolio, making the stock its 4th biggest position. 3G Capital Partners LP’s holdings in MercadoLibre were worth $50,356,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC grew its holdings in shares of MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after buying an additional 1,430 shares in the last quarter. Weitz Investment Management Inc. bought a new position in shares of MercadoLibre during the third quarter worth about $8,647,000. Brown Advisory Inc. grew its holdings in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares in the last quarter. TIAA Trust National Association grew its holdings in shares of MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after buying an additional 1,083 shares in the last quarter. Finally, Deepwater Asset Management LLC grew its holdings in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Benchmark decreased their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research report on Friday, May 8th. Finally, Cantor Fitzgerald reduced their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,631.82 on Thursday. The stock has a 50 day moving average price of $1,711.90 and a 200 day moving average price of $1,864.64. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $82.73 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period last year, the company posted $9.74 earnings per share. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share 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.