Sustainable Growth Advisers LP Sells 9,500 Shares of MercadoLibre, Inc. $MELI

Sustainable Growth Advisers LP lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 28.4% during the third quarter, HoldingsChannel.com reports. The fund owned 24,008 shares of the company’s stock after selling 9,500 shares during the period. Sustainable Growth Advisers LP’s holdings in MercadoLibre were worth $41,499,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MELI. BlackRock Inc. acquired a new position in MercadoLibre in the second quarter worth about $2,246,015,000. Janus Henderson Group PLC boosted its holdings in MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after purchasing an additional 126,294 shares in the last quarter. Linonia Partnership LP boosted its holdings in MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after purchasing an additional 423,527 shares in the last quarter. Jupiter Topco LLC acquired a new stake in MercadoLibre during the second quarter valued at approximately $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in MercadoLibre by 7.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company’s stock valued at $906,094,000 after purchasing an additional 38,871 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.0%

Shares of MercadoLibre stock opened at $1,856.98 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The stock has a market capitalization of $94.14 billion, a P/E ratio of 50.50, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. The company has a 50-day simple moving average of $1,862.88 and a 200 day simple moving average of $1,783.39. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business earned $10.31 earnings per share. Research analysts expect that MercadoLibre, Inc. will post 38.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price objective on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. New Street Research assumed coverage on MercadoLibre in a research report on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 target price for the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre Company Profile

MercadoLibre, Inc (NASDAQ:MELI) operates a technology platform serving commerce and financial-services customers across Latin America. Its online marketplace connects buyers and sellers, offering products across categories including electronics, apparel, home goods, automotive products and consumer packaged goods.

The company also provides a range of supporting services, including Mercado Pago, a digital payments platform that enables online and in-person transactions, money transfers and other financial services.