Delta Global Management LP Invests $531,000 in MercadoLibre, Inc. $MELI

Delta Global Management LP bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 307 shares of the company’s stock, valued at approximately $531,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Advisory Inc. increased its holdings in shares of MercadoLibre by 2,494.9% in the fourth 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 during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of 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 during the last quarter. TIAA Trust National Association raised its stake in shares of 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 during the last quarter. Deepwater Asset Management LLC lifted its holdings in shares of MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas lifted its holdings in shares of MercadoLibre by 18.2% during the fourth quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after purchasing an additional 6,200 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,801.44 on Monday. The stock’s 50 day moving average price is $1,705.94 and its 200 day moving average price is $1,813.47. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a market cap of $91.33 billion, a PE ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. 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 (NASDAQ:MELI) last released its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the company posted $9.74 EPS. The company’s revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a report on Friday, May 8th. UBS Group dropped their price target 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, Benchmark cut their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

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.