MercadoLibre, Inc. (NASDAQ:MELI) is Absoluto Partners Gestao de Recursos Ltda’s Largest Position

Absoluto Partners Gestao de Recursos Ltda decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,346 shares of the company’s stock after selling 12,480 shares during the period. MercadoLibre comprises 33.1% of Absoluto Partners Gestao de Recursos Ltda’s portfolio, making the stock its largest holding. Absoluto Partners Gestao de Recursos Ltda owned about 0.06% of MercadoLibre worth $53,982,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares during the period. Capital World Investors grew its position in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after acquiring an additional 95,029 shares during the period. GQG Partners LLC increased its stake 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 43.2% during 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 in 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 Trading Up 0.4 %

Shares of MELI stock opened at $2,111.00 on Wednesday. The stock’s 50 day simple moving average is $1,914.15 and its two-hundred day simple moving average is $1,700.96. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,157.64. The company has a market cap of $107.03 billion, a PE ratio of 94.45, a price-to-earnings-growth 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 (NASDAQ:MELI) last posted its quarterly earnings data 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 company had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company posted $5.16 EPS. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 35.79 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a research note on Monday. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research raised their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Citigroup upped their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target 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.