MercadoLibre, Inc. $MELI Shares Purchased by AlphaQuest LLC

AlphaQuest LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 70.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400 shares of the company’s stock after acquiring an additional 165 shares during the quarter. AlphaQuest LLC’s holdings in MercadoLibre were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MELI. Bison Wealth LLC acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $206,000. International Assets Investment Management LLC boosted its position in shares of MercadoLibre by 21.5% during the 1st quarter. International Assets Investment Management LLC now owns 158 shares of the company’s stock valued at $308,000 after acquiring an additional 28 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of MercadoLibre by 47.4% during the 1st quarter. Golden State Wealth Management LLC now owns 56 shares of the company’s stock valued at $109,000 after acquiring an additional 18 shares during the last quarter. Perigon Wealth Management LLC lifted its position in MercadoLibre by 1.9% in the first quarter. Perigon Wealth Management LLC now owns 975 shares of the company’s stock valued at $1,902,000 after buying an additional 18 shares during the last quarter. Finally, Pure Financial Advisors LLC acquired a new position in MercadoLibre in the first quarter valued at about $213,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MELI shares. Barclays decreased their target price on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a research report on Tuesday. Daiwa Capital Markets started coverage on shares of MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price on the stock. Susquehanna decreased their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,799.12.

MercadoLibre Stock Up 0.6%

Shares of MELI opened at $2,161.11 on Friday. The stock has a market capitalization of $109.57 billion, a PE ratio of 53.37, a P/E/G ratio of 1.47 and a beta of 1.46. 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 quick ratio of 1.18 and a current ratio of 1.20. The company’s 50-day simple moving average is $2,315.64 and its 200-day simple moving average is $2,359.44.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the company posted $10.48 EPS. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.