MercadoLibre, Inc. $MELI Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.9% during the second quarter, HoldingsChannel reports. The firm owned 3,449 shares of the company’s stock after selling 297 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in MercadoLibre were worth $5,855,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Capital Research Global Investors grew its position in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the period. Capital International Investors lifted its position in MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. BlackRock Inc. acquired a new stake in MercadoLibre in the 2nd quarter worth about $2,246,015,000. Finally, Janus Henderson Group PLC grew its holdings in MercadoLibre by 1.7% in the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after buying an additional 10,142 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $1,922.73 on Friday. The stock has a 50-day moving average price of $1,793.05 and a two-hundred day moving average price of $1,775.94. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market cap of $97.48 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the business posted $10.31 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MELI. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Finally, Benchmark cut their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.