GQG Partners LLC Trims Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

GQG Partners LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 30.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 373,963 shares of the company's stock after selling 167,033 shares during the period. GQG Partners LLC owned about 0.74% of MercadoLibre worth $635,902,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MELI. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the 4th quarter worth $565,306,000. Strategic Financial Concepts LLC boosted its position in MercadoLibre by 169,952.3% during the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock worth $309,405,000 after purchasing an additional 181,849 shares during the period. FMR LLC increased its stake in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in MercadoLibre in the 3rd quarter worth approximately $114,417,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $47.78 during trading on Friday, hitting $2,048.07. 326,428 shares of the stock traded hands, compared to its average volume of 374,317. The stock has a market cap of $103.83 billion, a price-to-earnings ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The firm's fifty day moving average is $2,028.39 and its 200-day moving average is $1,974.17.

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MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MELI. Bank of America increased their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Barclays boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $2,402.81.

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.