Manning & Napier Advisors LLC Decreases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Manning & Napier Advisors LLC reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,112 shares of the company's stock after selling 8,149 shares during the period. MercadoLibre makes up 1.4% of Manning & Napier Advisors LLC's holdings, making the stock its 21st biggest position. Manning & Napier Advisors LLC owned 0.12% of MercadoLibre worth $117,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Capital International Investors increased its position in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock worth $2,370,848,000 after purchasing an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $565,306,000. Capital World Investors increased its position in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the last quarter. Finally, Norges Bank acquired a new stake in MercadoLibre during the fourth quarter worth about $383,051,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 2.0%

Shares of NASDAQ MELI traded up $49.08 during midday trading on Monday, hitting $2,452.89. The company's stock had a trading volume of 349,805 shares, compared to its average volume of 386,748. The business's fifty day simple moving average is $2,387.65 and its two-hundred day simple moving average is $2,090.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The firm has a market capitalization of $124.36 billion, a price-to-earnings ratio of 60.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the firm posted $6.78 earnings per share. The business's revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MELI. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price objective (up from $2,450.00) on shares of MercadoLibre in a research report on Thursday, June 5th. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research report on Thursday, May 22nd. Finally, Barclays lifted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $2,632.50.

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.