MercadoLibre, Inc. $MELI is Sycale Advisors NY LLC’s 7th Largest Position

Sycale Advisors NY LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,921 shares of the company’s stock after acquiring an additional 1,112 shares during the quarter. MercadoLibre makes up 6.8% of Sycale Advisors NY LLC’s investment portfolio, making the stock its 7th largest position. Sycale Advisors NY LLC’s holdings in MercadoLibre were worth $13,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bison Wealth LLC bought a new stake in shares of MercadoLibre in the fourth quarter worth about $206,000. Empowered Funds LLC raised its position in MercadoLibre by 6.9% during the 1st 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 lifted its holdings in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL grew its position in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,799.21 on Thursday. The stock has a market cap of $91.22 billion, a price-to-earnings ratio of 47.49, a PEG ratio of 1.12 and a beta of 1.35. The business’s fifty day moving average is $1,697.03 and its 200 day moving average is $1,817.14. 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 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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 firm 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 business posted $9.74 EPS. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MELI. Cantor Fitzgerald reduced their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Scotiabank dropped their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research note on Friday, May 8th. Finally, Benchmark reduced their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

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.