TenCore Partners LP Sells 1,000 Shares of MercadoLibre, Inc. $MELI

TenCore Partners LP lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 17.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,868 shares of the company’s stock after selling 1,000 shares during the period. MercadoLibre makes up 7.0% of TenCore Partners LP’s holdings, making the stock its 4th biggest position. TenCore Partners LP’s holdings in MercadoLibre were worth $8,414,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $2,246,015,000. Janus Henderson Group PLC lifted its position in shares of MercadoLibre by 1.7% in the first 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 in the last quarter. Linonia Partnership LP boosted its stake in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock worth $939,994,000 after purchasing an additional 423,527 shares during the last quarter. Jupiter Topco LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MercadoLibre by 7.9% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after purchasing an additional 38,871 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Key MercadoLibre News

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: MercadoLibre’s Q3 revenue rose 45% year over year to $10.75 billion, and management commentary points to customers shopping more often and placing more money with Mercado Pago. The company has also sustained a long run of strong growth. MercadoLibre Stock Looks Attractive Even as Brazil Fears Mount MercadoLibre Is “the Only Company Ever” to Grow 30% for 30 Straight Quarters
• Positive Sentiment: Expansion efforts may support future growth: fulfillment capacity increased ahead of peak season, while orders through Brazil’s affiliate marketing channel climbed 240% year over year. One article also argues that the share-price pullback has made the growth story more appealing to investors. MercadoLibre: 3 Key Takeaways for Long-Term Investors Down 24% This Year, Is MercadoLibre an Obvious Growth Stock?
• Neutral Sentiment: JPMorgan lowered its price target from $2,150 to $1,850 and kept a neutral rating, signaling more cautious expectations despite potential upside from the level cited in the report. MercadoLibre Stock Price Targets
• Neutral Sentiment: A short-interest item describes a large increase but reports total short interest of zero shares as of November 10, an apparent inconsistency that makes the data difficult to interpret.
• Negative Sentiment: Profitability is the key concern: shipping costs and expansion spending are squeezing margins even as revenue grows. Q3 EPS of $8.83 also missed the $9.27 consensus estimate, and reports say shares fell 11.9% after earnings. The company’s premium valuation may amplify investor caution. MercadoLibre Declines 11.9% Since Q3 Earnings MercadoLibre’s Growth Strategy Puts Profit Margins to the Test

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MELI. Susquehanna boosted their price target on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. BTIG Research cut their price objective on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating for the company in a research note on Thursday, November 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,180.00.

Check Out Our Latest Stock Analysis on MercadoLibre

MercadoLibre Price Performance

MELI opened at $1,490.24 on Wednesday. The stock’s 50-day moving average price is $1,790.41 and its 200 day moving average price is $1,798.61. MercadoLibre, Inc. has a 12-month low of $1,469.01 and a 12-month high of $2,342.00. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. The firm has a market cap of $75.56 billion, a price-to-earnings ratio of 39.97, a PEG ratio of 1.08 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). The firm had revenue of $10.75 billion for the quarter, compared to analysts’ expectations of $10.69 billion. MercadoLibre had a net margin of 4.91% and a return on equity of 25.15%. The business’s revenue was up 45.1% compared to the same quarter last year. During the same quarter last year, the business earned $8.32 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 37.88 earnings per share for the current year.

About MercadoLibre

(Free Report)

MercadoLibre, Inc. operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products. The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.

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