Sustainable Growth Advisers LP Cuts Stock Position in MercadoLibre, Inc. $MELI

Sustainable Growth Advisers LP decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,106 shares of the company’s stock after selling 35,211 shares during the quarter. MercadoLibre comprises about 1.6% of Sustainable Growth Advisers LP’s investment portfolio, making the stock its 25th largest position. Sustainable Growth Advisers LP’s holdings in MercadoLibre were worth $303,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after purchasing an additional 87,912 shares during the period. Jennison Associates LLC increased its position in shares of MercadoLibre by 7.0% during the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in MercadoLibre during the 2nd quarter valued at $198,244,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,048.89 on Friday. The stock has a market capitalization of $103.87 billion, a PE ratio of 50.00, a PEG ratio of 1.56 and a beta of 1.51. The company has a 50 day moving average price of $2,256.65 and a 200-day moving average price of $2,372.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same period last year, the business posted $7.83 EPS. Equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. Barclays increased their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Morgan Stanley boosted their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. BTIG Research reiterated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Friday. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,854.71.

MercadoLibre Profile

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.