Korea Investment CORP Has $56.68 Million Holdings in MercadoLibre, Inc. $MELI

Korea Investment CORP lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.6% in the second quarter, HoldingsChannel reports. The fund owned 33,392 shares of the company’s stock after selling 3,962 shares during the period. Korea Investment CORP’s holdings in MercadoLibre were worth $56,679,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in MercadoLibre during the fourth quarter worth $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in MercadoLibre in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.0%

Shares of NASDAQ MELI opened at $1,922.73 on Friday. The company’s 50 day moving average price is $1,793.05 and its 200-day moving average price is $1,775.94. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a market capitalization of $97.48 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research note on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a report on Friday, May 8th. Finally, Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.