Sustainable Growth Advisers LP Purchases 12,783 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Sustainable Growth Advisers LP grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,317 shares of the company's stock after acquiring an additional 12,783 shares during the quarter. MercadoLibre accounts for about 1.6% of Sustainable Growth Advisers LP's holdings, making the stock its 25th largest position. Sustainable Growth Advisers LP owned 0.30% of MercadoLibre worth $295,200,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its position in shares of 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 buying an additional 179,807 shares during the period. Capital International Investors increased its holdings in MercadoLibre by 38.7% during the 4th quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after purchasing an additional 470,829 shares in the last quarter. Capital World Investors increased its holdings in MercadoLibre by 24.5% during the 4th quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after purchasing an additional 308,973 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $2,370,848,000 after purchasing an additional 405,425 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in MercadoLibre by 1.6% during the 1st quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock valued at $2,251,531,000 after purchasing an additional 18,731 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 1.2%

MELI traded down $28.49 during trading on Friday, reaching $2,362.56. 278,387 shares of the stock traded hands, compared to its average volume of 393,848. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $119.78 billion, a PE ratio of 58.11, a P/E/G ratio of 1.42 and a beta of 1.49. The stock's 50-day moving average is $2,480.35 and its 200 day moving average is $2,198.06. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22.

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

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Susquehanna reissued a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, UBS Group set a $3,000.00 price target on MercadoLibre in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,639.69.

About MercadoLibre

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.