GQG Partners LLC Sells 167,033 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

GQG Partners LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 30.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 373,963 shares of the company’s stock after selling 167,033 shares during the quarter. GQG Partners LLC’s holdings in MercadoLibre were worth $635,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Human Investing LLC bought a new stake in MercadoLibre in the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its holdings in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the last quarter. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. raised its holdings in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MELI. Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald lifted their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,134.31 on Tuesday. The business’s fifty day moving average is $2,005.48 and its 200 day moving average is $1,971.33. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $108.20 billion, a PE ratio of 56.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.