Punch & Associates Investment Management Inc. Makes New Investment in MercadoLibre, Inc. $MELI

Punch & Associates Investment Management Inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,288 shares of the company’s stock, valued at approximately $15,765,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Brown Advisory Inc. raised its holdings in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after buying an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after buying an additional 1,430 shares during the period. TIAA Trust National Association boosted its position in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares during the last quarter. Deepwater Asset Management LLC boosted its position in shares of MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $279,445,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.3%

Shares of NASDAQ MELI opened at $1,950.44 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a 50-day moving average price of $1,811.91 and a 200-day moving average price of $1,771.27. The stock has a market capitalization of $98.89 billion, a P/E ratio of 53.04, a P/E/G ratio of 1.37 and a beta of 1.34. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research report on Friday, May 8th. Scotiabank dropped their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Benchmark cut their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a report on Friday, May 8th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.

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.