Makena Capital Management LLC Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

Makena Capital Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.2% during the third quarter, HoldingsChannel.com reports. The fund owned 4,107 shares of the company’s stock after selling 1,695 shares during the quarter. Makena Capital Management LLC’s holdings in MercadoLibre were worth $8,427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Raymond James & Associates grew its holdings in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares during the period. KBC Group NV increased its position in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Caprock Group LLC boosted its holdings in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares during the last quarter. Sarasin & Partners LLP grew its position in MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new stake in MercadoLibre during the second quarter valued at approximately $875,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $1,931.26 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The firm has a market capitalization of $97.91 billion, a P/E ratio of 68.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a fifty day simple moving average of $2,031.02 and a two-hundred day simple moving average of $1,851.83. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MELI. BTIG Research reduced their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

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.