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

Osborne Partners Capital Management LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC grew its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the period. International Assets Investment Management LLC boosted its holdings in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at approximately $2,913,000. Finally, Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $2,047.35 on Friday. The stock has a market capitalization of $103.80 billion, a price-to-earnings ratio of 73.99, a price-to-earnings-growth ratio of 1.26 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, Inc. has a 52-week low of $1,162.73 and a 52-week high of $2,161.73. The stock’s fifty day simple moving average is $2,045.69 and its 200-day simple moving average is $1,777.82.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results 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. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the company earned $5.16 EPS. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Morgan Stanley lifted their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Citigroup boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a report on Wednesday, October 2nd. Finally, Barclays upped their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.