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

Thornburg Investment Management Inc. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,712 shares of the company’s stock after selling 2,028 shares during the quarter. MercadoLibre makes up approximately 1.0% of Thornburg Investment Management Inc.’s holdings, making the stock its 25th biggest position. Thornburg Investment Management Inc.’s holdings in MercadoLibre were worth $80,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highview Capital Management LLC DE purchased a new position in shares of MercadoLibre during the second quarter valued at about $559,000. Ninety One North America Inc. lifted its position in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after buying an additional 1,080 shares in the last quarter. Jackson Wealth Management LLC bought a new position in MercadoLibre during the second quarter valued at approximately $499,000. Resona Asset Management Co. Ltd. grew its holdings in MercadoLibre by 4.0% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after buying an additional 585 shares in the last quarter. Finally, Banco Santander S.A. grew its holdings in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after buying an additional 1,893 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,055.00 on Wednesday. The company has a market capitalization of $104.18 billion, a price-to-earnings ratio of 50.15, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm’s 50-day moving average is $2,209.38 and its 200 day moving average is $2,358.43. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the previous year, the business earned $7.83 EPS. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent research reports. Benchmark decreased their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. UBS Group decreased their price target on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Finally, Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Company 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.