James Hambro & Partners LLP Sells 1,310 Shares of MercadoLibre, Inc. $MELI

James Hambro & Partners LLP trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 15.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,136 shares of the company’s stock after selling 1,310 shares during the quarter. MercadoLibre accounts for 0.4% of James Hambro & Partners LLP’s portfolio, making the stock its 23rd largest holding. James Hambro & Partners LLP’s holdings in MercadoLibre were worth $12,339,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MELI. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter worth $28,000. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre in the 2nd quarter valued at $29,000. Twin Lakes Capital Management LLC acquired a new stake in MercadoLibre in the 2nd quarter worth $31,000. Hanson & Doremus Investment Management acquired a new stake in MercadoLibre in the 1st quarter worth $35,000. Finally, Markowski Investments acquired a new stake in MercadoLibre in the 2nd quarter worth $36,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on MELI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research report on Tuesday, September 29th. JPMorgan Chase & Co. lifted their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. New Street Research initiated coverage on MercadoLibre in a research note on Wednesday, September 23rd. They set a “buy” rating and a $2,450.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. Finally, Susquehanna upped their price target on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a report on Tuesday, October 6th. Twelve analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,251.88.

MercadoLibre Stock Performance

MELI stock traded down $1.69 during midday trading on Monday, hitting $1,832.31. The stock had a trading volume of 179,227 shares, compared to its average volume of 534,329. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,428.00. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a 50-day simple moving average of $1,863.15 and a 200 day simple moving average of $1,784.90. The firm has a market capitalization of $92.89 billion, a price-to-earnings ratio of 49.83, a P/E/G ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the firm posted $10.31 EPS. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 38.09 earnings per share for the current year.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.