Dorsal Capital Management LLC Takes $26.90 Million Position in Mercadolibre Inc (MELI)

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Dorsal Capital Management LLC acquired a new stake in Mercadolibre Inc (NASDAQ:MELI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 90,000 shares of the company’s stock, valued at approximately $26,904,000. Mercadolibre accounts for approximately 1.4% of Dorsal Capital Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Fortis Advisors LLC bought a new stake in shares of Mercadolibre in the 1st quarter valued at approximately $112,000. HMS Capital Management LLC bought a new stake in shares of Mercadolibre in the 2nd quarter valued at approximately $211,000. WESPAC Advisors LLC bought a new stake in shares of Mercadolibre in the 1st quarter valued at approximately $215,000. Sawtooth Solutions LLC bought a new stake in shares of Mercadolibre in the 2nd quarter valued at approximately $257,000. Finally, Financial Enhancement Group LLC acquired a new position in shares of Mercadolibre in the 2nd quarter worth approximately $259,000. Institutional investors own 95.26% of the company’s stock.

In other news, Director Meyer Malka acquired 16,518 shares of Mercadolibre stock in a transaction on Thursday, June 14th. The shares were purchased at an average price of $301.39 per share, with a total value of $4,978,360.02. Following the acquisition, the director now owns 1,708 shares in the company, valued at $514,774.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is currently owned by corporate insiders.

Shares of MELI opened at $320.76 on Friday. The company has a market capitalization of $14.48 billion, a PE ratio of 1,131.04 and a beta of 2.06. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.15 and a current ratio of 1.15. Mercadolibre Inc has a one year low of $217.06 and a one year high of $417.91.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). Mercadolibre had a positive return on equity of 4.32% and a negative net margin of 4.39%. The firm had revenue of $335.40 million for the quarter, compared to analyst estimates of $333.98 million. During the same period in the prior year, the company posted $0.61 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. sell-side analysts expect that Mercadolibre Inc will post -0.44 EPS for the current fiscal year.

MELI has been the topic of several recent analyst reports. Piper Jaffray Companies boosted their target price on Mercadolibre to $350.00 and gave the stock an “overweight” rating in a report on Thursday, May 10th. Stifel Nicolaus reissued a “hold” rating and issued a $360.00 target price (down from $405.00) on shares of Mercadolibre in a report on Thursday, May 10th. BidaskClub downgraded Mercadolibre from a “hold” rating to a “sell” rating in a report on Friday, May 11th. Morgan Stanley reduced their target price on Mercadolibre from $330.00 to $260.00 and set an “underweight” rating on the stock in a report on Tuesday, May 29th. Finally, ValuEngine downgraded Mercadolibre from a “buy” rating to a “hold” rating in a report on Friday, June 8th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $356.92.

Mercadolibre Company Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Read More: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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