SummitTX Capital L.P. Purchases New Holdings in MercadoLibre, Inc. $MELI

SummitTX Capital L.P. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 288 shares of the company’s stock, valued at approximately $498,000.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Capital Research Global Investors grew 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 valued at $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Capital International Investors grew its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock worth $1,216,807,000 after buying an additional 126,294 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.4%

MELI stock opened at $1,877.95 on Friday. 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 firm has a market capitalization of $95.21 billion, a PE ratio of 49.56, a PEG ratio of 1.16 and a beta of 1.35. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The business’s 50 day simple moving average is $1,728.64 and its 200 day simple moving average is $1,804.99.

MercadoLibre (NASDAQ:MELI) last posted 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 business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the company posted $9.74 EPS. The firm’s revenue was up 49.0% on a year-over-year basis. As a group, research analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MELI. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a research note on Wednesday, May 13th. Citigroup upped their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, BTIG Research reiterated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, 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 accessible 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.