Osborne Partners Capital Management LLC Lowers Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Osborne Partners Capital Management LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,539 shares of the company’s stock after selling 766 shares during the period. Osborne Partners Capital Management LLC’s holdings in MercadoLibre were worth $13,418,000 as of its most recent SEC filing.

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

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,047.35 on Friday. The stock’s 50-day moving average is $2,045.69 and its two-hundred day moving average is $1,777.82. The firm has a market cap of $103.80 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a 1 year low of $1,162.73 and a 1 year high of $2,161.73.

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 the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. Analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on MELI. Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research report on Wednesday, October 2nd. BTIG Research upped their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,301.67.

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.