Munro Partners Purchases New Shares in MercadoLibre, Inc. $MELI

Munro Partners acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,235 shares of the company’s stock, valued at approximately $5,841,000.

Other hedge funds also recently bought and sold shares of the company. Jackson Wealth Management LLC acquired a new stake in shares of MercadoLibre in the second quarter worth $499,000. Highview Capital Management LLC DE bought a new position in MercadoLibre in the 2nd quarter worth $559,000. Ninety One North America Inc. lifted its position in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after acquiring an additional 1,080 shares during the last quarter. Resona Asset Management Co. Ltd. boosted its holdings in MercadoLibre by 4.0% during the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after acquiring an additional 585 shares during the period. Finally, Jennison Associates LLC grew its position in shares of MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Stock Performance

MELI opened at $2,015.89 on Friday. The stock’s 50 day simple moving average is $2,121.14 and its 200-day simple moving average is $2,314.90. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a market cap of $102.21 billion, a PE ratio of 49.19, a P/E/G ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.83 EPS. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Benchmark cut their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Wedbush boosted their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Citigroup reduced their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $2,848.82.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.