AlphaQuest LLC Boosts Position in MercadoLibre, Inc. $MELI

Key Points

• AlphaQuest LLC increased its position in MercadoLibre by 70.2% during the second quarter, owning a total of 400 shares valued at approximately $1,045,000.
• MercadoLibre's latest earnings report showed $10.31 earnings per share, missing estimates, but with revenue of $6.79 billion exceeding analyst expectations.
• Hedge funds and institutional investors own approximately 87.62% of MercadoLibre's stock, highlighting strong institutional interest in the company.

AlphaQuest LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 70.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 400 shares of the company's stock after buying an additional 165 shares during the quarter. AlphaQuest LLC's holdings in MercadoLibre were worth $1,045,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ninety One North America Inc. raised its position in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company's stock worth $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. increased its holdings in shares of MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Stratos Investment Management LLC purchased a new position in shares of MercadoLibre during the 1st quarter valued at approximately $203,000. Costello Asset Management INC increased its holdings in shares of MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company's stock valued at $1,509,000 after purchasing an additional 469 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company's stock valued at $5,899,000 after purchasing an additional 177 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.6%

Shares of MELI opened at $2,161.11 on Friday. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week 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's fifty day moving average is $2,315.64 and its two-hundred day moving average is $2,359.44. The stock has a market cap of $109.57 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its 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). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period last year, the firm earned $10.48 EPS. The company's revenue for the quarter was up 33.8% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a report on Wednesday, October 8th. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating on the stock in a research note on Thursday, October 9th. Daiwa Capital Markets started coverage on shares of MercadoLibre in a report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price target for the company. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays cut their price target on shares of MercadoLibre from $3,000.00 to $2,800.00 and set an "overweight" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,799.12.

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.

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