Clearbridge Investments LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Clearbridge Investments LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 41.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,556 shares of the company’s stock after selling 68,899 shares during the period. Clearbridge Investments LLC owned 0.19% of MercadoLibre worth $158,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors lifted its holdings in MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after acquiring an additional 4,317 shares during the period. Capital World Investors increased its stake in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC raised its holdings in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.7 %

Shares of NASDAQ:MELI opened at $2,066.12 on Wednesday. The firm has a fifty day moving average price of $1,955.98 and a two-hundred day moving average price of $1,720.04. The company has a market cap of $104.75 billion, a price-to-earnings ratio of 92.44, a PEG ratio of 1.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73.

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

Analyst Ratings Changes

Several brokerages have issued reports on MELI. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Barclays boosted their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Finally, Morgan Stanley upped their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,217.50.

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.