MercadoLibre, Inc. (NASDAQ:MELI) is Coronation Fund Managers Ltd.'s 3rd Largest Position

Key Points

• Coronation Fund Managers Ltd. reduced its stake in MercadoLibre, Inc. by 2.9%, now holding 75,258 shares worth approximately $146.8 million, making it the firm's 3rd biggest position.
• Institutional investors have been actively adjusting their positions in MercadoLibre, with Capital International Investors increasing its stake by 38.7% and other firms also boosting their holdings significantly during the previous quarters.
• MercadoLibre's recent quarterly earnings fell short of analyst expectations, reporting $10.31 EPS against a consensus of $12.01, despite revenue growth of 33.8% year-over-year.

Coronation Fund Managers Ltd. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 75,258 shares of the company's stock after selling 2,220 shares during the quarter. MercadoLibre comprises about 7.9% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 3rd largest position. Coronation Fund Managers Ltd. owned about 0.15% of MercadoLibre worth $146,819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Capital International Investors lifted its position in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after acquiring an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 41.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after acquiring an additional 405,425 shares during the period. Capital World Investors lifted its position in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after acquiring an additional 308,973 shares during the period. Capital Research Global Investors lifted its position in MercadoLibre by 8.0% during the 4th quarter. Capital Research Global Investors now owns 2,415,815 shares of the company's stock worth $4,108,079,000 after acquiring an additional 179,807 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after acquiring an additional 173,449 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $61.66 on Monday, hitting $2,292.04. The company's stock had a trading volume of 351,316 shares, compared to its average volume of 343,773. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm has a fifty day moving average price of $2,431.57 and a 200-day moving average price of $2,250.90. The company has a market capitalization of $116.21 billion, a price-to-earnings ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. Wedbush decreased their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Susquehanna reissued a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,795.00.

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.