9,500 MercadoLibre, Inc. $MELI Shares Sold by Sustainable Growth Advisers LP

Key Points

• Sustainable Growth Advisers LP reduced its MercadoLibre stake by 28.4%, selling 9,500 shares during the third quarter and retaining 24,008 shares valued at approximately $41.5 million.
• Other major investors increased exposure or initiated positions, and institutional investors collectively own 87.62% of MercadoLibre.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and exceeded EPS expectations; analysts maintain a “Moderate Buy” consensus with an average price target of $2,251.88.

Sustainable Growth Advisers LP cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 28.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,008 shares of the company's stock after selling 9,500 shares during the period. Sustainable Growth Advisers LP's holdings in MercadoLibre were worth $41,499,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $2,246,015,000. Janus Henderson Group PLC lifted its holdings in shares of MercadoLibre by 26.4% during the fourth quarter. Janus Henderson Group PLC now owns 604,096 shares of the company's stock worth $1,216,807,000 after buying an additional 126,294 shares during the last quarter. Linonia Partnership LP lifted its holdings in shares of MercadoLibre by 325.1% during the second quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock worth $939,994,000 after buying an additional 423,527 shares during the last quarter. Jupiter Topco LLC acquired a new position in shares of MercadoLibre during the second quarter worth approximately $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of MercadoLibre by 7.9% in the second 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 acquiring an additional 38,871 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 1.0%

Shares of MELI opened at $1,856.98 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,428.00. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $94.14 billion, a price-to-earnings ratio of 50.50, a P/E/G ratio of 1.29 and a beta of 1.31. The stock's 50-day moving average price is $1,862.88 and its 200 day moving average price is $1,783.39.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the company earned $10.31 EPS. The company's quarterly revenue was up 49.8% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 38.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MELI shares. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Citigroup cut their target price on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating for the company in a research note on Tuesday. BTIG Research reiterated a "buy" rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, September 3rd. New Street Research started coverage on shares of MercadoLibre in a report on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 price target for the company. Finally, Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research report on Tuesday, September 29th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,251.88.

MercadoLibre Company Profile

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.

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