Cloverfields Capital Group LP Purchases 291 Shares of MercadoLibre, Inc. $MELI

Cloverfields Capital Group LP grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,103 shares of the company’s stock after purchasing an additional 291 shares during the quarter. Cloverfields Capital Group LP’s holdings in MercadoLibre were worth $1,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Bison Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $206,000. Empowered Funds LLC raised its holdings in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares during the period. Focus Partners Wealth lifted its position in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in MercadoLibre during the second quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL grew its holdings in MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,798.70 on Friday. The company has a market cap of $91.19 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock’s 50 day simple moving average is $1,700.85 and its two-hundred day simple moving average is $1,815.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last posted its 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 net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period last year, the business posted $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

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

Analysts Set New Price Targets

Several research firms have recently commented on MELI. Benchmark decreased their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. UBS Group reduced their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Barclays lowered their price target on shares of 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, Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

About MercadoLibre

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.