MercadoLibre, Inc. $MELI is Carmignac Gestion’s 2nd Largest Position

Carmignac Gestion grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 76.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 249,455 shares of the company’s stock after buying an additional 108,082 shares during the quarter. MercadoLibre comprises 6.6% of Carmignac Gestion’s investment portfolio, making the stock its 2nd biggest holding. Carmignac Gestion owned 0.49% of MercadoLibre worth $431,065,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Brown Advisory Inc. increased its stake in MercadoLibre by 2,494.9% in the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after purchasing an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock worth $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association boosted its position in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC grew its holdings in MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock valued at $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, Employees Retirement System of Texas grew its holdings in MercadoLibre by 18.2% in the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock valued at $80,941,000 after purchasing an additional 6,200 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several research reports. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. UBS Group cut their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,258.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,877.95 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock’s fifty day simple moving average is $1,728.64 and its 200-day simple moving average is $1,802.56. The company has a market capitalization of $95.21 billion, a P/E ratio of 49.56, a P/E/G ratio of 1.16 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.74 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was acquired 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 $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

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.