CORDA Investment Management LLC. Makes New Investment in MercadoLibre, Inc. $MELI

CORDA Investment Management LLC. acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, HoldingsChannel reports. The firm acquired 731 shares of the company’s stock, valued at approximately $1,241,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Interchange Capital Partners LLC grew its holdings in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC increased its position in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after acquiring an additional 5 shares during the period. Mitchell Capital Management Co. raised its stake in MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC raised its stake in MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after acquiring an additional 5 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were bought 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 owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

MercadoLibre Trading Up 0.9%

Shares of MELI opened at $1,844.58 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average is $1,767.47 and its two-hundred day moving average is $1,788.68. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The firm has a market capitalization of $93.52 billion, a P/E ratio of 50.17, a PEG ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the firm earned $10.31 EPS. On average, research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Benchmark decreased their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Citigroup increased their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. UBS Group dropped their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 7th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.