MercadoLibre, Inc. $MELI Stock: Strategy Asset Managers LLC Cuts Position

Strategy Asset Managers LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 26.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,156 shares of the company’s stock after selling 1,142 shares during the period. Strategy Asset Managers LLC’s holdings in MercadoLibre were worth $5,455,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new position in MercadoLibre in the second quarter worth $2,246,015,000. Janus Henderson Group PLC grew its stake 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 purchasing an additional 10,142 shares during the period. Linonia Partnership LP grew its stake in MercadoLibre by 325.1% in the 2nd 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 during the period. Jupiter Topco LLC bought a new position in MercadoLibre in the 2nd quarter valued at $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MercadoLibre by 7.9% during the 2nd 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 during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their target price 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. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Monday. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday, September 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Stock Performance

Shares of MELI opened at $1,839.11 on Thursday. The stock’s 50-day simple moving average is $1,862.34 and its 200 day simple moving average is $1,781.58. The stock has a market capitalization of $93.24 billion, a price-to-earnings ratio of 51.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00.

MercadoLibre (NASDAQ:MELI) last issued 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. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.31 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 38.13 EPS for the current fiscal year.

About MercadoLibre

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.