TenCore Partners LP Boosts Stock Position in MercadoLibre, Inc. $MELI

TenCore Partners LP lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 51.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,983 shares of the company’s stock after acquiring an additional 2,025 shares during the quarter. MercadoLibre makes up approximately 6.2% of TenCore Partners LP’s portfolio, making the stock its 7th biggest position. TenCore Partners LP’s holdings in MercadoLibre were worth $12,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre during the third quarter valued at about $35,000. Holos Integrated Wealth LLC bought a new stake in MercadoLibre during the fourth quarter valued at about $32,000. Finally, Rothschild Investment LLC boosted its position in MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research note on Friday, May 8th. BTIG Research decreased their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their price target for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and decreased their price target for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Trading Up 2.1%

Shares of NASDAQ:MELI opened at $1,730.98 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The stock has a market cap of $87.76 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 1.04 and a beta of 1.36. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $1,720.80 and a 200-day moving average price of $1,898.53.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre 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.