Allspring Global Investments Holdings LLC Has $277.30 Million Stock Position in MercadoLibre, Inc. $MELI

Allspring Global Investments Holdings LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 110,857 shares of the company’s stock after selling 13,037 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MercadoLibre were worth $277,298,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ninety One North America Inc. lifted its holdings in shares of MercadoLibre by 21.5% during the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares in the last quarter. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after buying an additional 1,893 shares in the last quarter. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre during the first quarter worth $203,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of MercadoLibre by 8.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock worth $5,899,000 after buying an additional 177 shares in the last quarter. Finally, Costello Asset Management INC raised its stake in MercadoLibre by 434.3% in the second quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MELI. Citigroup dropped their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Wall Street Zen downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Barclays dropped their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,815.29.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,133.67 on Monday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $2,363.50 and its two-hundred day moving average price is $2,347.84. The stock has a market cap of $108.18 billion, a PE ratio of 52.70, a P/E/G ratio of 1.43 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. The business’s revenue was up 33.8% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.