Quantbot Technologies LP Raises Stock Holdings in MercadoLibre, Inc. $MELI

Quantbot Technologies LP lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the company’s stock after buying an additional 58 shares during the quarter. Quantbot Technologies LP’s holdings in MercadoLibre were worth $9,163,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Optimize Financial Inc raised its position in MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after acquiring an additional 4 shares during the period. Range Financial Group LLC grew its position in shares of MercadoLibre by 2.7% in the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock valued at $491,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after purchasing an additional 5 shares in the last quarter. Quadcap Wealth Management LLC raised its position in shares of MercadoLibre by 4.2% during the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC lifted its stake in MercadoLibre by 37.5% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock valued at $43,000 after buying an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MELI shares. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Citigroup reduced their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Susquehanna dropped their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,064.55 on Tuesday. The company’s 50-day moving average is $2,176.93 and its two-hundred day moving average is $2,344.65. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The firm has a market capitalization of $104.67 billion, a price-to-earnings ratio of 50.38, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the firm posted $7.83 EPS. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.