Quantitative Investment Management LLC Grows Holdings in MercadoLibre, Inc. $MELI

Quantitative Investment Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 276.6% in the 2nd quarter, Holdings Channel reports. The fund owned 6,311 shares of the company’s stock after buying an additional 4,635 shares during the quarter. MercadoLibre accounts for about 1.2% of Quantitative Investment Management LLC’s investment portfolio, making the stock its 13th biggest position. Quantitative Investment Management LLC’s holdings in MercadoLibre were worth $10,712,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MELI. Bison Wealth LLC purchased a new position in MercadoLibre during the fourth quarter valued at $206,000. Empowered Funds LLC boosted its holdings in MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares in the last quarter. Focus Partners Wealth grew its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after acquiring an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre in the second quarter worth $261,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of MercadoLibre by 21.4% during the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MELI shares. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research note on Wednesday, May 13th. Scotiabank lowered their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. UBS Group dropped their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,966.25 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a 50-day simple moving average of $1,824.45 and a two-hundred day simple moving average of $1,770.51. The firm has a market capitalization of $99.68 billion, a PE ratio of 53.47, a P/E/G ratio of 1.35 and a beta of 1.34. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter last year, the company earned $10.31 earnings per share. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.