William Blair Investment Management LLC Sells 74,408 Shares of MercadoLibre, Inc. $MELI

Key Points

• William Blair Investment Management cut its MercadoLibre position by 99.4%, selling 74,408 shares and retaining just 441 shares valued at approximately $749,000.
• Analysts remain generally positive, with 11 Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $2,272.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in adjusted EPS versus an $8.65 estimate and $10.17 billion in revenue, up 49.8% year over year.

William Blair Investment Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 99.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 441 shares of the company's stock after selling 74,408 shares during the period. William Blair Investment Management LLC's holdings in MercadoLibre were worth $749,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brown Advisory Inc. lifted its holdings in MercadoLibre by 2,494.9% during the 4th quarter. Brown Advisory Inc. now owns 15,362 shares of the company's stock valued at $30,943,000 after purchasing an additional 14,770 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company's stock valued at $4,089,000 after purchasing an additional 1,430 shares during the last quarter. TIAA Trust National Association raised its position in shares of MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company's stock valued at $22,179,000 after purchasing an additional 1,083 shares during the period. Deepwater Asset Management LLC raised its position in shares of MercadoLibre by 38.6% in the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company's stock valued at $15,641,000 after purchasing an additional 2,164 shares during the period. Finally, Deutsche Bank AG acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $279,445,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MELI. JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a report on Monday, May 11th. BTIG Research reiterated a "buy" rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, August 6th. Finally, Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Price Performance

Shares of MELI opened at $1,922.73 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The firm's 50 day moving average is $1,793.05 and its 200-day moving average is $1,773.33. The stock has a market capitalization of $97.48 billion, a PE ratio of 52.29, a P/E/G ratio of 1.32 and a beta of 1.34.

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, beating the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company posted $10.31 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company 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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