Brown Brothers Harriman & Co. Sells 49 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Brown Brothers Harriman & Co. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 23.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160 shares of the company’s stock after selling 49 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in MercadoLibre were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MELI. GQG Partners LLC grew its stake in shares of 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 last quarter. Price T Rowe Associates Inc. MD grew its position 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 worth $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in MercadoLibre in the 2nd quarter worth approximately $2,913,000. Janus Henderson Group PLC lifted its position in MercadoLibre by 55.8% in 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 last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of MercadoLibre by 1,432.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 127,355 shares of the company’s stock valued at $200,140,000 after purchasing an additional 119,043 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research note on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective for the company. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,182.92.

MercadoLibre Trading Up 1.4 %

NASDAQ MELI opened at $2,102.64 on Thursday. The firm has a market capitalization of $106.60 billion, a PE ratio of 94.08, a P/E/G ratio of 1.33 and a beta of 1.61. The stock’s 50 day moving average is $1,884.30 and its 200 day moving average is $1,683.67. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm earned $5.16 EPS. The company’s revenue was up 41.5% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

About MercadoLibre

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.