Quadrature Capital Ltd Buys 6,981 Shares of MercadoLibre, Inc. $MELI

Quadrature Capital Ltd grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 39.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,654 shares of the company’s stock after buying an additional 6,981 shares during the quarter. MercadoLibre accounts for 1.1% of Quadrature Capital Ltd’s investment portfolio, making the stock its 16th biggest position. Quadrature Capital Ltd’s holdings in MercadoLibre were worth $64,381,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after purchasing an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. Generation Investment Management LLP raised its holdings in shares of MercadoLibre by 3.3% during the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after buying an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC lifted its position in MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after buying an additional 87,912 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 1.1%

Shares of MELI opened at $2,033.32 on Friday. The stock has a market capitalization of $103.08 billion, a P/E ratio of 49.62, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $2,192.26 and a two-hundred day simple moving average of $2,353.92.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business’s revenue was up 39.5% on a year-over-year basis. During the same period last year, the company posted $7.83 earnings per share. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Susquehanna decreased their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets began coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Barclays upped their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Citigroup decreased their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Company 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.