Navi International Administradora e Gestora de Recursos Financeiros Ltda. Acquires 945 Shares of MercadoLibre, Inc. $MELI

Navi International Administradora e Gestora de Recursos Financeiros Ltda. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,251 shares of the company’s stock after purchasing an additional 945 shares during the period. MercadoLibre comprises 36.6% of Navi International Administradora e Gestora de Recursos Financeiros Ltda.’s portfolio, making the stock its largest position. Navi International Administradora e Gestora de Recursos Financeiros Ltda.’s holdings in MercadoLibre were worth $53,045,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Capital International Investors grew its holdings in MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after acquiring an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after purchasing an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC raised its stake in shares of MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after purchasing an additional 10,142 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MELI. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Finally, Barclays dropped their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,978.36 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $1,859.43 and its two-hundred day moving average price is $1,770.98. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s revenue was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company earned $10.31 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

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.