Dragoneer Investment Group LLC Makes New Investment in MercadoLibre, Inc. $MELI

Dragoneer Investment Group LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 103,379 shares of the company’s stock, valued at approximately $241,591,000. MercadoLibre makes up about 5.3% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 10th biggest holding.

Other large investors have also modified their holdings of the company. EFG Asset Management Americas Corp. acquired a new stake in MercadoLibre during the third quarter worth $1,741,000. Brevan Howard Capital Management LP lifted its holdings in shares of MercadoLibre by 847.8% during the 3rd quarter. Brevan Howard Capital Management LP now owns 3,791 shares of the company’s stock worth $8,944,000 after acquiring an additional 3,391 shares during the period. City of London Investment Management Co. Ltd. acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at about $1,110,000. Clough Capital Partners L P increased its stake in MercadoLibre by 10.8% in the third quarter. Clough Capital Partners L P now owns 4,839 shares of the company’s stock valued at $11,308,000 after acquiring an additional 472 shares during the period. Finally, Circle Wealth Management LLC raised its position in MercadoLibre by 7.2% in the third quarter. Circle Wealth Management LLC now owns 835 shares of the company’s stock worth $1,951,000 after purchasing an additional 56 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,162.61 on Thursday. The business’s fifty day moving average is $2,069.27 and its two-hundred day moving average is $2,257.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The firm has a market cap of $109.64 billion, a P/E ratio of 52.77, a P/E/G ratio of 1.09 and a beta of 1.42. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.83 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,136 shares of company stock valued at $2,308,788. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Morgan Stanley upped their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Wedbush lowered their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a research report on Friday, December 19th. Benchmark cut their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Finally, Barclays upped their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

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.