Quantbot Technologies LP Purchases 2,873 Shares of MercadoLibre, Inc. $MELI

Key Points

• Quantbot Technologies LP increased its holdings in MercadoLibre, Inc. by 499.7%, owning 3,448 shares valued at approximately $6.73 million after purchasing an additional 2,873 shares.
• MercadoLibre's latest earnings report showed an EPS of $10.31, falling short of the $12.01 expected by analysts, but revenues rose by 33.8% year-over-year to $6.79 billion.
• As of now, analysts have an average rating of "Moderate Buy" for MercadoLibre with a consensus price target of $2,817.22, indicating potential growth ahead.

Quantbot Technologies LP increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 499.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,448 shares of the company's stock after buying an additional 2,873 shares during the quarter. Quantbot Technologies LP's holdings in MercadoLibre were worth $6,727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Key Financial Inc bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter worth $25,000. Park Square Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at $26,000. Close Asset Management Ltd increased its position in shares of MercadoLibre by 366.7% during the first 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. Finally, Brooklyn Investment Group raised its holdings in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $93.18 during midday trading on Friday, reaching $2,430.62. The company had a trading volume of 436,058 shares, compared to its average volume of 369,414. The stock has a market cap of $123.23 billion, a P/E ratio of 60.03, a P/E/G ratio of 1.52 and a beta of 1.46. The company's 50 day moving average price is $2,411.33 and its 200 day moving average price is $2,273.82. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on MELI shares. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 target price on the stock. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Barclays reduced their target price on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.