Ninety One UK Ltd Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Ninety One UK Ltd lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 999 shares of the company’s stock after selling 78 shares during the quarter. Ninety One UK Ltd’s holdings in MercadoLibre were worth $1,570,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MELI. Envestnet Asset Management Inc. boosted its holdings in shares of MercadoLibre by 99.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,554 shares of the company’s stock worth $67,900,000 after purchasing an additional 26,679 shares during the period. Townsquare Capital LLC boosted its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Townsquare Capital LLC now owns 1,549 shares of the company’s stock worth $1,964,000 after purchasing an additional 14 shares during the period. California Public Employees Retirement System boosted its holdings in shares of MercadoLibre by 1.5% in the 3rd quarter. California Public Employees Retirement System now owns 89,312 shares of the company’s stock worth $113,237,000 after purchasing an additional 1,277 shares during the period. Vanguard Group Inc. boosted its holdings in shares of MercadoLibre by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 178,815 shares of the company’s stock worth $226,716,000 after purchasing an additional 4,065 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock worth $229,703,000 after purchasing an additional 146,034 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. Susquehanna boosted their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. UBS Group dropped their price objective on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup dropped their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,813.85.

MercadoLibre Trading Down 2.0 %

MELI opened at $1,370.25 on Friday. The firm has a market cap of $69.47 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 0.90 and a beta of 1.44. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72. MercadoLibre, Inc. has a 12 month low of $1,063.02 and a 12 month high of $1,825.00. The stock has a fifty day moving average price of $1,567.55 and a 200-day moving average price of $1,522.78.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.25 earnings per share. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 35.77 earnings per share for the current fiscal year.

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.