Altimeter Capital Management LP Raises Holdings in MercadoLibre, Inc. $MELI

Altimeter Capital Management LP increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 81.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 68,480 shares of the company’s stock after buying an additional 30,639 shares during the period. MercadoLibre accounts for about 2.1% of Altimeter Capital Management LP’s holdings, making the stock its 14th largest holding. Altimeter Capital Management LP’s holdings in MercadoLibre were worth $137,937,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Curio Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre in the 3rd quarter worth $35,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 2.5%

NASDAQ:MELI opened at $1,631.82 on Thursday. The business’s 50-day moving average is $1,711.90 and its two-hundred day moving average is $1,864.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The firm has a market capitalization of $82.73 billion, a PE ratio of 43.07, a price-to-earnings-growth ratio of 1.03 and a beta of 1.36.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a research report on Wednesday, May 13th. Scotiabank cut their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. UBS Group cut their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Wedbush cut their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought 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 of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is 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.