Makena Capital Management LLC Sells 801 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Makena Capital Management LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 12.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,802 shares of the company’s stock after selling 801 shares during the period. MercadoLibre accounts for 2.2% of Makena Capital Management LLC’s portfolio, making the stock its 23rd biggest position. Makena Capital Management LLC’s holdings in MercadoLibre were worth $9,535,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. GQG Partners LLC boosted its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in MercadoLibre in the second quarter worth about $2,913,000. Janus Henderson Group PLC raised its stake in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in MercadoLibre by 1,432.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock worth $200,140,000 after buying an additional 119,043 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,100.21 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,161.73. The company has a market capitalization of $106.47 billion, a P/E ratio of 93.97, a P/E/G ratio of 1.34 and a beta of 1.61. The business’s 50 day moving average is $1,923.38 and its two-hundred day moving average is $1,703.97.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period last year, the business posted $5.16 EPS. Analysts expect that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MELI shares. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. BTIG Research raised their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup upped their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,207.31.

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.