TenCore Partners LP Sells 1,000 Shares of MercadoLibre, Inc. $MELI

TenCore Partners LP decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,868 shares of the company’s stock after selling 1,000 shares during the period. MercadoLibre accounts for approximately 7.0% of TenCore Partners LP’s portfolio, making the stock its 4th biggest position. TenCore Partners LP’s holdings in MercadoLibre were worth $8,414,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MELI. Wedbush Fund Advisers LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at about $29,000. Twin Lakes Capital Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $31,000. NBT Bank N.A. purchased a new stake in shares of MercadoLibre during the third quarter worth approximately $35,000. Markowski Investments acquired a new stake in MercadoLibre in the second quarter valued at approximately $36,000. Finally, Byrne Asset Management LLC acquired a new stake in MercadoLibre in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MELI. New Street Research initiated coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price target for the company. Scotiabank dropped their price objective on shares of MercadoLibre from $2,800.00 to $2,300.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 5th. Raymond James Financial restated a “strong-buy” rating on shares of MercadoLibre in a report on Thursday, November 5th. Susquehanna raised their price objective on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a report on Tuesday, October 6th. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,180.00.

MercadoLibre Trading Down 2.8%

MELI opened at $1,490.24 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.17. MercadoLibre, Inc. has a one year low of $1,469.01 and a one year high of $2,342.00. The company has a market cap of $75.56 billion, a P/E ratio of 39.97, a PEG ratio of 1.08 and a beta of 1.42. The business’s 50-day simple moving average is $1,790.41 and its 200-day simple moving average is $1,798.61.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, November 4th. The company reported $8.83 earnings per share for the quarter, missing the consensus estimate of $9.27 by ($0.44). The business had revenue of $10.75 billion for the quarter, compared to analysts’ expectations of $10.69 billion. MercadoLibre had a return on equity of 25.15% and a net margin of 4.91%. MercadoLibre’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.32 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 37.88 EPS for the current fiscal year.

Trending Headlines about MercadoLibre

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: MercadoLibre’s Q3 revenue rose 45% year over year to $10.75 billion, and management commentary points to customers shopping more often and placing more money with Mercado Pago. The company has also sustained a long run of strong growth. MercadoLibre Stock Looks Attractive Even as Brazil Fears Mount MercadoLibre Is “the Only Company Ever” to Grow 30% for 30 Straight Quarters
• Positive Sentiment: Expansion efforts may support future growth: fulfillment capacity increased ahead of peak season, while orders through Brazil’s affiliate marketing channel climbed 240% year over year. One article also argues that the share-price pullback has made the growth story more appealing to investors. MercadoLibre: 3 Key Takeaways for Long-Term Investors Down 24% This Year, Is MercadoLibre an Obvious Growth Stock?
• Neutral Sentiment: JPMorgan lowered its price target from $2,150 to $1,850 and kept a neutral rating, signaling more cautious expectations despite potential upside from the level cited in the report. MercadoLibre Stock Price Targets
• Neutral Sentiment: A short-interest item describes a large increase but reports total short interest of zero shares as of November 10, an apparent inconsistency that makes the data difficult to interpret.
• Negative Sentiment: Profitability is the key concern: shipping costs and expansion spending are squeezing margins even as revenue grows. Q3 EPS of $8.83 also missed the $9.27 consensus estimate, and reports say shares fell 11.9% after earnings. The company’s premium valuation may amplify investor caution. MercadoLibre Declines 11.9% Since Q3 Earnings MercadoLibre’s Growth Strategy Puts Profit Margins to the Test

MercadoLibre Profile

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.