Thornburg Investment Management Inc. Lowers Stake in MercadoLibre, Inc. $MELI

Key Points

• Thornburg Investment Management reduced its MercadoLibre stake by 5.1% in the second quarter, selling 1,572 shares and retaining 29,450 shares valued at approximately $49.99 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus an $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $2,272, compared with a recent share price of $1,966.25.

Thornburg Investment Management Inc. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,450 shares of the company's stock after selling 1,572 shares during the period. Thornburg Investment Management Inc. owned approximately 0.06% of MercadoLibre worth $49,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter worth about $29,000. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,966.25 on Friday. The stock has a market capitalization of $99.69 billion, a P/E ratio of 53.47, a PEG ratio of 1.35 and a beta of 1.34. The business has a 50 day simple moving average of $1,824.45 and a two-hundred day simple moving average of $1,772.36. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company posted $10.31 earnings per share. The business's revenue was up 49.8% on a year-over-year basis. As a group, analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Scotiabank decreased their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating on the stock in a report on Thursday, May 7th. Finally, Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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