AQR Capital Management LLC Lowers Position in MercadoLibre, Inc. $MELI

Key Points

• AQR Capital Management LLC has reduced its stake in MercadoLibre, Inc. by 7.2%, now holding 10,012 shares valued at $19.37 million.
• Analysts have varying ratings for MercadoLibre, with price targets ranging from $2,600 to $3,000, and an average consensus target price of $2,817.22.
• In its latest earnings report, MercadoLibre missed consensus EPS estimates, reporting $10.31 earnings per share against an expected $12.01, despite revenue exceeding projections.

AQR Capital Management LLC trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,012 shares of the company's stock after selling 779 shares during the quarter. AQR Capital Management LLC's holdings in MercadoLibre were worth $19,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd raised its stake in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter worth $26,000. Finally, Brooklyn Investment Group raised its stake in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a research note 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 objective on the stock. Barclays dropped their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Stock Performance

NASDAQ MELI traded down $10.79 during trading on Thursday, reaching $2,338.20. The company's stock had a trading volume of 331,013 shares, compared to its average volume of 389,707. 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 firm has a market cap of $118.55 billion, a price-to-earnings ratio of 57.75, a P/E/G ratio of 1.54 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The business's fifty day moving average price is $2,391.71 and its 200-day moving average price is $2,304.11.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.48 EPS. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.