QRG Capital Management Inc. Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

QRG Capital Management Inc. increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 73.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 291 shares of the company's stock after purchasing an additional 123 shares during the quarter. QRG Capital Management Inc.'s holdings in MercadoLibre were worth $568,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors lifted its stake in MercadoLibre by 38.7% in the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company's stock valued at $2,868,869,000 after buying an additional 470,829 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 41.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company's stock valued at $2,370,848,000 after buying an additional 405,425 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $565,306,000. Capital World Investors lifted its stake in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company's stock valued at $2,667,386,000 after buying an additional 308,973 shares during the last quarter. Finally, Norges Bank purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $383,051,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MELI shares. Barclays boosted their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Finally, Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,632.50.

MercadoLibre Trading Up 0.0%

Shares of MELI stock opened at $2,403.81 on Friday. The business's fifty day moving average price is $2,387.65 and its 200 day moving average price is $2,089.54. MercadoLibre, Inc. has a 1-year low of $1,563.21 and a 1-year high of $2,635.88. The firm has a market capitalization of $121.87 billion, a PE ratio of 59.12, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the company posted $6.78 earnings per share. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal 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.

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