Quantbot Technologies LP lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 50.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 526 shares of the company’s stock after selling 538 shares during the quarter. Quantbot Technologies LP’s holdings in MercadoLibre were worth $893,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in MELI. BlackRock Inc. bought a new position in MercadoLibre in the second quarter valued at approximately $2,246,015,000. Capital Research Global Investors increased its holdings in MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Norges Bank bought a new position in MercadoLibre during the fourth quarter worth about $597,045,000. Royal Bank of Canada grew its position in shares of MercadoLibre by 114.2% during the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after buying an additional 237,008 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after acquiring an additional 202,322 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on MELI shares. Benchmark decreased their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a report on Wednesday, May 13th. Citigroup boosted their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. UBS Group lowered their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.
MercadoLibre Stock Performance
Shares of MELI opened at $1,950.44 on Thursday. The stock has a market capitalization of $98.89 billion, a price-to-earnings ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The firm has a fifty day simple moving average of $1,811.91 and a 200 day simple moving average of $1,771.27. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.31 EPS. Research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.
About MercadoLibre
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.
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