26 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Purchased by Quarry LP

Quarry LP purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 26 shares of the company’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First PREMIER Bank bought a new stake in MercadoLibre during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Scarborough Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter valued at about $36,000. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $36,000. Finally, Transcendent Capital Group LLC purchased a new position in MercadoLibre during the fourth quarter worth about $38,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,960.00 on Friday. The stock has a market capitalization of $99.37 billion, a price-to-earnings ratio of 87.70, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company has a fifty day moving average of $1,975.39 and a 200-day moving average of $1,728.02. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The company’s quarterly revenue was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.16 earnings per share. Equities research analysts expect that MercadoLibre, Inc. will post 35.79 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on MELI. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Raymond James initiated coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. BTIG Research boosted their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Citigroup raised their price objective on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,246.07.

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.