Thornburg Investment Management Inc. Sells 2,374 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Thornburg Investment Management Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,154 shares of the company's stock after selling 2,374 shares during the period. Thornburg Investment Management Inc. owned 0.07% of MercadoLibre worth $56,376,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MELI. Capital International Investors increased its stake in MercadoLibre by 38.7% in 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 last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 41.0% in the fourth 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. Wealthfront Advisers LLC bought a new stake in MercadoLibre in the fourth quarter worth $565,306,000. Capital World Investors raised its stake in MercadoLibre by 24.5% during the fourth 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. Finally, Norges Bank bought a new position in MercadoLibre during the fourth quarter valued at $383,051,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.9%

Shares of MercadoLibre stock traded up $22.76 on Wednesday, hitting $2,601.97. 344,434 shares of the company traded hands, compared to its average volume of 383,113. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company has a market cap of $131.91 billion, a PE ratio of 69.02, a PEG ratio of 1.12 and a beta of 1.61. The stock's 50 day moving average price is $2,158.30 and its 200-day moving average price is $2,007.13. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,623.52.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the company posted $6.78 EPS. MercadoLibre's revenue was up 37.0% on a year-over-year basis. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Ratings Changes

MELI has been the subject of several recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Bank of America increased their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. StockNews.com downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Friday, May 16th. Finally, Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $2,551.43.

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.