Sandler Capital Management Grows Position in Mercadolibre Inc (NASDAQ:MELI)

Sandler Capital Management increased its holdings in Mercadolibre Inc (NASDAQ:MELI) by 229.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,770 shares of the company’s stock after acquiring an additional 9,590 shares during the quarter. Sandler Capital Management’s holdings in Mercadolibre were worth $8,424,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Mercadolibre by 1.0% in the second quarter. BlackRock Inc. now owns 1,491,572 shares of the company’s stock worth $912,500,000 after acquiring an additional 14,951 shares during the period. FMR LLC lifted its stake in Mercadolibre by 24.8% in the first quarter. FMR LLC now owns 1,270,693 shares of the company’s stock worth $645,170,000 after acquiring an additional 252,698 shares during the period. OppenheimerFunds Inc. lifted its stake in Mercadolibre by 9.1% in the first quarter. OppenheimerFunds Inc. now owns 1,099,806 shares of the company’s stock worth $558,403,000 after acquiring an additional 91,900 shares during the period. Invesco Ltd. lifted its stake in Mercadolibre by 112.9% in the second quarter. Invesco Ltd. now owns 1,020,646 shares of the company’s stock worth $624,402,000 after acquiring an additional 541,277 shares during the period. Finally, Jennison Associates LLC lifted its stake in Mercadolibre by 1.4% in the second quarter. Jennison Associates LLC now owns 435,230 shares of the company’s stock worth $266,261,000 after acquiring an additional 6,138 shares during the period. 81.48% of the stock is owned by institutional investors.

Shares of MELI traded down $8.12 during mid-day trading on Wednesday, hitting $541.86. 50,279 shares of the company traded hands, compared to its average volume of 417,289. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $698.98. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $28.18 billion, a PE ratio of -662.56 and a beta of 1.71. The business has a 50 day moving average of $606.47 and a 200 day moving average of $568.99.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The firm had revenue of $545.24 million for the quarter, compared to the consensus estimate of $507.68 million. During the same quarter in the prior year, the company posted ($0.25) earnings per share. The company’s revenue for the quarter was up 62.6% compared to the same quarter last year. As a group, research analysts expect that Mercadolibre Inc will post 0.58 EPS for the current fiscal year.

A number of equities analysts have commented on the stock. BTIG Research upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 target price for the company in a report on Monday, September 9th. Stifel Nicolaus boosted their target price on shares of Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Deutsche Bank boosted their target price on shares of Mercadolibre from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Citigroup upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $609.00 to $729.00 in a report on Thursday, August 8th. Finally, Goldman Sachs Group set a $713.00 target price on shares of Mercadolibre and gave the stock a “buy” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mercadolibre has an average rating of “Buy” and an average price target of $665.69.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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