Tiger Global Management LLC Makes New $233.43 Million Investment in MercadoLibre, Inc. $MELI

Tiger Global Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 135,006 shares of the company’s stock, valued at approximately $233,428,000. MercadoLibre comprises approximately 1.0% of Tiger Global Management LLC’s portfolio, making the stock its 22nd largest holding.

A number of other large investors also recently made changes to their positions in the stock. Brown Advisory Inc. raised its position in shares of 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 acquiring an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after acquiring an additional 1,430 shares in the last quarter. TIAA Trust National Association lifted its holdings in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its stake in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas increased its holdings in shares of MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MELI shares. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,801.44 on Friday. The firm has a market cap of $91.33 billion, a P/E ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The business’s 50 day moving average is $1,705.94 and its 200-day moving average is $1,815.81. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS 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 during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the company earned $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities research analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.