MercadoLibre, Inc. $MELI Stock Purchased by Rare Wolf Capital LLC

Rare Wolf Capital LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 70.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,261 shares of the company’s stock after buying an additional 521 shares during the period. MercadoLibre makes up approximately 1.3% of Rare Wolf Capital LLC’s portfolio, making the stock its 22nd biggest holding. Rare Wolf Capital LLC’s holdings in MercadoLibre were worth $2,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CORDA Investment Management LLC. purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at $1,241,000. Deutsche Bank AG bought a new stake in shares of MercadoLibre during the 2nd quarter worth $279,445,000. State Street Corp raised its stake in shares of MercadoLibre by 7.7% during the 2nd quarter. State Street Corp now owns 459,748 shares of the company’s stock worth $780,372,000 after purchasing an additional 32,734 shares during the period. Allianz Asset Management GmbH raised its stake in shares of MercadoLibre by 72.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company’s stock worth $174,176,000 after purchasing an additional 43,130 shares during the period. Finally, Nykredit A S purchased a new position in shares of MercadoLibre in the 2nd quarter worth about $43,261,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,879.50 on Wednesday. The stock has a fifty day simple moving average of $1,862.24 and a two-hundred day simple moving average of $1,786.81. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,428.00. The firm has a market cap of $95.29 billion, a price-to-earnings ratio of 51.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the business posted $10.31 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on MELI shares. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. New Street Research assumed coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price objective for the company. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Finally, Susquehanna boosted their target price on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.