MercadoLibre, Inc. $MELI is Hardman Johnston Global Advisors LLC’s Largest Position

Hardman Johnston Global Advisors LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.4% in the second quarter, HoldingsChannel reports. The firm owned 70,257 shares of the company’s stock after selling 4,009 shares during the quarter. MercadoLibre makes up 8.1% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its largest position. Hardman Johnston Global Advisors LLC’s holdings in MercadoLibre were worth $183,626,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in shares of MercadoLibre by 170.9% in the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after buying an additional 173,449 shares during the last quarter. Invesco Ltd. raised its position in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the period. GQG Partners LLC increased its stake 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 in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of MercadoLibre in the 1st quarter worth $143,367,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Citigroup lowered their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Jefferies Financial Group restated a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,828.33.

MercadoLibre Trading Up 3.2%

Shares of MELI opened at $2,246.60 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a 50 day simple moving average of $2,386.09 and a two-hundred day simple moving average of $2,340.46. The firm has a market cap of $113.90 billion, a P/E ratio of 55.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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 company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the business earned $10.48 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company 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.