MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Lessened by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138 shares of the company’s stock after selling 5 shares during the quarter. Contravisory Investment Management Inc.’s holdings in MercadoLibre were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MELI. Capital World Investors boosted its position in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC boosted its holdings in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

MELI stock opened at $2,091.16 on Friday. The firm has a 50 day moving average of $2,006.26 and a two-hundred day moving average of $1,739.70. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73. The company has a market capitalization of $106.02 billion, a price-to-earnings ratio of 93.56, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 earnings per share. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MELI. Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research note on Wednesday, October 2nd. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,283.00.

MercadoLibre 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.