Empowered Funds LLC Makes New $5.10 Million Investment in MercadoLibre, Inc. $MELI

Empowered Funds LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, HoldingsChannel reports. The firm acquired 3,003 shares of the company’s stock, valued at approximately $5,097,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the period. Capital International Investors increased its position in MercadoLibre by 7.3% in the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock valued at $3,474,880,000 after acquiring an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares during the period. BlackRock Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at about $2,246,015,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 1.5%

Shares of MELI stock opened at $1,936.88 on Tuesday. The business’s fifty day moving average price is $1,831.39 and its 200 day moving average price is $1,769.88. The firm has a market capitalization of $98.20 billion, a PE ratio of 52.68, a P/E/G ratio of 1.35 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 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 return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.31 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of a number of recent research reports. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. 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. Finally, Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.