Quest Partners LLC Purchases 300 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Quest Partners LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 128.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 533 shares of the company’s stock after purchasing an additional 300 shares during the period. Quest Partners LLC’s holdings in MercadoLibre were worth $876,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MELI. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. Norges Bank purchased a new position in MercadoLibre in the 4th quarter worth approximately $554,386,000. Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $2,913,000. Finally, Janus Henderson Group PLC raised its position in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.6 %

NASDAQ MELI opened at $2,017.58 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,064.76. The firm has a market capitalization of $102.29 billion, a price-to-earnings ratio of 90.27, a PEG ratio of 1.29 and a beta of 1.60. The company has a fifty day moving average of $1,831.51 and a two-hundred day moving average of $1,663.23.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the previous year, the company earned $5.16 EPS. On average, analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Citigroup raised their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Cantor Fitzgerald started coverage on MercadoLibre in a report on Thursday, September 5th. They set an “overweight” rating and a $2,530.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,141.25.

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.