15,305 MercadoLibre, Inc. $MELI Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 80.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,821 shares of the company’s stock after selling 15,305 shares during the period. Ninety One UK Ltd’s holdings in MercadoLibre were worth $6,605,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. TT Capital Management LLC increased its stake in MercadoLibre by 450.8% during the 3rd quarter. TT Capital Management LLC now owns 727 shares of the company’s stock worth $1,257,000 after acquiring an additional 595 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in MercadoLibre by 19.3% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 297 shares of the company’s stock valued at $513,000 after acquiring an additional 48 shares in the last quarter. Lodestone Wealth Management LLC raised its holdings in MercadoLibre by 17.4% in the 3rd quarter. Lodestone Wealth Management LLC now owns 331 shares of the company’s stock valued at $571,000 after acquiring an additional 49 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in MercadoLibre by 7.5% in the 3rd quarter. Salem Investment Counselors Inc. now owns 3,079 shares of the company’s stock valued at $5,322,000 after acquiring an additional 214 shares in the last quarter. Finally, Krilogy Financial LLC lifted its position in shares of MercadoLibre by 24.0% during the 3rd quarter. Krilogy Financial LLC now owns 815 shares of the company’s stock valued at $1,542,000 after acquiring an additional 158 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,856.98 on Friday. The firm’s 50 day simple moving average is $1,862.88 and its 200 day simple moving average is $1,783.39. The firm has a market capitalization of $94.14 billion, a price-to-earnings ratio of 50.50, a P/E/G ratio of 1.29 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,428.00.

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

Analyst Ratings Changes

Several analysts have recently issued reports on MELI shares. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Susquehanna boosted their price target on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research note on Tuesday, October 6th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. Finally, Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,251.88.

MercadoLibre 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.