Comgest Global Investors S.A.S. Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Comgest Global Investors S.A.S. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,994 shares of the company’s stock after selling 7,746 shares during the quarter. MercadoLibre makes up approximately 1.3% of Comgest Global Investors S.A.S.’s portfolio, making the stock its 18th biggest holding. Comgest Global Investors S.A.S.’s holdings in MercadoLibre were worth $90,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors lifted its holdings in shares of MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings 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 worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Janus Henderson Group PLC lifted 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 worth $557,225,000 after buying an additional 132,028 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of MercadoLibre by 3.6% in the second 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 in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.2 %

Shares of NASDAQ MELI traded up $3.80 during mid-day trading on Friday, hitting $1,880.00. The stock had a trading volume of 463,972 shares, compared to its average volume of 368,186. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The business has a 50 day moving average price of $2,037.61 and a two-hundred day moving average price of $1,840.97. The firm has a market cap of $95.32 billion, a P/E ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Finally, BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre 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.