James Hambro & Partners LLP Sells 1,310 Shares of MercadoLibre, Inc. $MELI

Key Points

• James Hambro & Partners LLP cut its MercadoLibre stake by 15.5% in the third quarter, selling 1,310 shares and retaining 7,136 shares valued at approximately $12.3 million.
• Other institutional investors were generally buyers, including Deutsche Bank, State Street, Allianz Asset Management, and Nykredit; institutional investors and hedge funds collectively own 87.62% of MELI.
• MercadoLibre reported stronger-than-expected quarterly results, with earnings of $9.19 per share and revenue of $10.17 billion, up 49.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $2,251.88.

James Hambro & Partners LLP lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,136 shares of the company's stock after selling 1,310 shares during the quarter. MercadoLibre makes up 0.4% of James Hambro & Partners LLP's investment portfolio, making the stock its 23rd largest holding. James Hambro & Partners LLP's holdings in MercadoLibre were worth $12,339,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. CORDA Investment Management LLC. acquired a new stake in MercadoLibre during the second quarter valued at $1,241,000. Deutsche Bank AG purchased a new position in MercadoLibre in the second quarter valued at about $279,445,000. State Street Corp increased its position in MercadoLibre by 7.7% in the 2nd quarter. State Street Corp now owns 459,748 shares of the company's stock worth $780,372,000 after purchasing an additional 32,734 shares during the last quarter. Allianz Asset Management GmbH increased its position in MercadoLibre by 72.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,614 shares of the company's stock worth $174,176,000 after purchasing an additional 43,130 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of MercadoLibre during the 2nd quarter worth about $43,261,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded down $1.69 during trading on Monday, reaching $1,832.31. The stock had a trading volume of 179,227 shares, compared to its average volume of 534,329. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,428.00. The firm has a market capitalization of $92.89 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.29 and a beta of 1.31. 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 stock has a fifty day simple moving average of $1,863.15 and a two-hundred day simple moving average of $1,784.90.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. During the same period in the previous year, the company earned $10.31 earnings per share. MercadoLibre's revenue for the quarter was up 49.8% on a year-over-year basis. As a group, analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating for the company in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. New Street Research assumed coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They issued a "buy" rating and a $2,450.00 target price for the company. Susquehanna increased their price target on shares of MercadoLibre to $2,400.00 and gave the stock a "positive" rating in a research note on Tuesday, October 6th. Finally, Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Twelve research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,251.88.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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