Thornburg Investment Management Inc. Has $57.74 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Thornburg Investment Management Inc. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,117 shares of the company’s stock after purchasing an additional 1,908 shares during the period. MercadoLibre makes up approximately 0.8% of Thornburg Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Thornburg Investment Management Inc.’s holdings in MercadoLibre were worth $57,742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MELI. Capital International Investors grew its holdings in shares of MercadoLibre by 0.4% in the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors boosted its position in 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 purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC grew its stake in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Finally, Janus Henderson Group PLC raised 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 purchasing an additional 132,028 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.4 %

Shares of NASDAQ MELI opened at $2,045.88 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average of $1,840.60 and a 200-day moving average of $1,665.91. The firm has a market capitalization of $103.72 billion, a price-to-earnings ratio of 91.54, a PEG ratio of 1.29 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.16 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MELI. Citigroup raised their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $2,150.00 to $2,400.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Finally, Barclays lifted their target price on MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,141.25.

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.