Quantitative Investment Management LLC Acquires 4,635 Shares of MercadoLibre, Inc. $MELI

Key Points

• Quantitative Investment Management LLC increased its MercadoLibre stake by 276.6% in the second quarter, purchasing 4,635 additional shares for a total of 6,311 shares valued at approximately $10.7 million.
• MercadoLibre reported quarterly revenue of $10.17 billion, up 49.8% year over year, and earnings of $9.19 per share—both exceeding analyst expectations.
• Analysts maintain a “Moderate Buy” consensus rating, with 11 Buy ratings and six Holds and an average price target of $2,272, compared with shares opening at $1,966.25.

Quantitative Investment Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 276.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,311 shares of the company's stock after purchasing an additional 4,635 shares during the quarter. MercadoLibre accounts for 1.2% of Quantitative Investment Management LLC's investment portfolio, making the stock its 13th biggest position. Quantitative Investment Management LLC's holdings in MercadoLibre were worth $10,712,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre during the 4th quarter valued at $28,000. Wedbush Fund Advisers LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Finally, Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at $29,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,966.25 on Monday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The stock has a market capitalization of $99.68 billion, a P/E ratio of 53.47, a P/E/G ratio of 1.35 and a beta of 1.34. The company's 50-day moving average is $1,824.45 and its 200 day moving average is $1,770.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre's quarterly revenue was up 49.8% compared to the same quarter last year. During the same period last year, the business posted $10.31 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 13th. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. BTIG Research reissued a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. Finally, Benchmark lowered their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,272.00.

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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