Carmignac Gestion Acquires 108,082 Shares of MercadoLibre, Inc. $MELI

Carmignac Gestion increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 76.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,455 shares of the company’s stock after purchasing an additional 108,082 shares during the period. MercadoLibre accounts for 6.6% of Carmignac Gestion’s investment portfolio, making the stock its 2nd biggest position. Carmignac Gestion’s holdings in MercadoLibre were worth $431,065,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Lombard Odier Asset Management Europe Ltd acquired a new position in shares of MercadoLibre in the 1st quarter valued at $4,535,000. Militia Capital Management LLC acquired a new stake in shares of MercadoLibre during the 1st quarter worth $3,458,000. Rathbones Group PLC raised its position in shares of MercadoLibre by 67.1% in the 1st quarter. Rathbones Group PLC now owns 25,042 shares of the company’s stock worth $43,298,000 after buying an additional 10,053 shares during the period. Parallel Advisors LLC raised its position in shares of MercadoLibre by 15.3% in the 1st quarter. Parallel Advisors LLC now owns 1,562 shares of the company’s stock worth $2,701,000 after buying an additional 207 shares during the period. Finally, Dala Group LLC purchased a new position in shares of MercadoLibre in the 1st quarter worth $2,992,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,877.95 on Monday. The company’s fifty day simple moving average is $1,728.64 and its 200-day simple moving average is $1,802.56. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a market cap of $95.21 billion, a P/E ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its quarterly 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 firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same period in the previous year, the business posted $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. Equities research analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Cantor Fitzgerald reduced their price objective 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. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. 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. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus 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.