Ardevora Asset Management LLP Reduces Position in Mercadolibre Inc (MELI)

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Ardevora Asset Management LLP reduced its holdings in Mercadolibre Inc (NASDAQ:MELI) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,514 shares of the company’s stock after selling 3,900 shares during the quarter. Ardevora Asset Management LLP owned 0.23% of Mercadolibre worth $34,903,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in Mercadolibre by 35.7% during the second quarter. FMR LLC now owns 1,454,121 shares of the company’s stock valued at $434,680,000 after purchasing an additional 382,384 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Mercadolibre by 310.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 487,664 shares of the company’s stock worth $145,778,000 after buying an additional 368,989 shares during the period. Artisan Partners Limited Partnership boosted its holdings in shares of Mercadolibre by 247.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock worth $87,434,000 after buying an additional 208,402 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Mercadolibre during the 2nd quarter worth $33,946,000. Finally, PointState Capital LP acquired a new position in Mercadolibre during the 2nd quarter valued at $32,263,000. Institutional investors and hedge funds own 95.39% of the company’s stock.

Several equities analysts recently commented on the stock. Barclays upped their target price on shares of Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Credit Suisse Group cut their target price on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. ValuEngine upgraded shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. BidaskClub upgraded shares of Mercadolibre from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research cut shares of Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Mercadolibre has an average rating of “Buy” and an average price target of $359.08.

Shares of MELI stock opened at $310.41 on Wednesday. Mercadolibre Inc has a 52-week low of $233.51 and a 52-week high of $417.91. The firm has a market capitalization of $13.04 billion, a PE ratio of 122.69 and a beta of 2.03. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 2.15.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. The business had revenue of $335.40 million during the quarter, compared to analyst estimates of $333.98 million. During the same quarter in the prior year, the company posted $0.61 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities research analysts forecast that Mercadolibre Inc will post -0.48 earnings per share for the current year.

Mercadolibre Company Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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