Azora Capital LP Sells 298 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Azora Capital LP lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,679 shares of the company’s stock after selling 298 shares during the quarter. MercadoLibre makes up about 4.6% of Azora Capital LP’s investment portfolio, making the stock its 8th largest holding. Azora Capital LP’s holdings in MercadoLibre were worth $85,524,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in shares of MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. FMR LLC grew its stake in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the last quarter. Legal & General Group Plc increased its position in 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 during the period. Royal London Asset Management Ltd. lifted its stake in MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after buying an additional 40,361 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of MercadoLibre by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MELI shares. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Wedbush reiterated an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 2.9 %

NASDAQ MELI opened at $1,985.17 on Monday. The company has a market capitalization of $100.65 billion, a P/E ratio of 70.05, a PEG ratio of 1.35 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company’s 50 day simple moving average is $2,020.96 and its 200 day simple moving average is $1,869.98.

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.