Fifth Lane Capital LP Purchases New Shares in MercadoLibre, Inc. $MELI

Fifth Lane Capital LP purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, Holdings Channel.com reports. The firm purchased 525 shares of the company’s stock, valued at approximately $1,057,000. MercadoLibre accounts for approximately 0.8% of Fifth Lane Capital LP’s portfolio, making the stock its 24th largest position.

A number of other hedge funds also recently bought and sold shares of MELI. Hardy Reed LLC boosted its holdings in shares of MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after buying an additional 5 shares during the period. Rothschild Investment LLC raised its holdings in shares of 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 acquiring an additional 5 shares during the period. Interchange Capital Partners LLC lifted its position in shares of MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC boosted its stake in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after purchasing an additional 5 shares during the period. Finally, Mitchell Capital Management Co. boosted its stake in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after purchasing 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 MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value 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. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MELI. Benchmark reduced their target price 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. Scotiabank dropped their price target 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. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Finally, UBS Group dropped their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Price Performance

MELI opened at $1,589.60 on Friday. The stock has a market cap of $80.59 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $1,715.68 and a 200 day moving average price of $1,873.83.

MercadoLibre (NASDAQ:MELI) last issued 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). 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 analyst estimates of $8.29 billion. During the same period in the previous year, the company earned $9.74 earnings per share. The business’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

About MercadoLibre

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.