MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Quotient Wealth Partners LLC

by · The Cerbat Gem

Quotient Wealth Partners LLC boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 2.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 321 shares of the company’s stock after acquiring an additional 9 shares during the period. Quotient Wealth Partners LLC’s holdings in MercadoLibre were worth $658,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sanibel Captiva Trust Company Inc. raised its stake in MercadoLibre by 94.9% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 456 shares of the company’s stock worth $936,000 after acquiring an additional 222 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in MercadoLibre in the 3rd quarter valued at approximately $98,000. Atomi Financial Group Inc. boosted its position in shares of MercadoLibre by 234.3% during the 3rd quarter. Atomi Financial Group Inc. now owns 993 shares of the company’s stock worth $2,039,000 after purchasing an additional 696 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in MercadoLibre by 11.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 935 shares of the company’s stock valued at $1,919,000 after buying an additional 98 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its holdings in MercadoLibre by 14.9% during the third quarter. Alpha Cubed Investments LLC now owns 231 shares of the company’s stock worth $474,000 after purchasing an additional 30 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI stock opened at $2,040.50 on Friday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The business’s 50-day moving average price is $1,997.57 and its two-hundred day moving average price is $1,737.60. The firm has a market cap of $103.45 billion, a PE ratio of 73.74, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share 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 analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same period in the prior year, the business earned $5.16 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on MELI. Citigroup increased their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,246.07.

Get Our Latest Research Report on MercadoLibre

MercadoLibre Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).