Quantbot Technologies LP Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Quantbot Technologies LP cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 90.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575 shares of the company’s stock after selling 5,753 shares during the quarter. Quantbot Technologies LP’s holdings in MercadoLibre were worth $978,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. 1620 Investment Advisors Inc. lifted its holdings in MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after acquiring an additional 5 shares during the period. Nvwm LLC lifted its stake in shares of MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after purchasing an additional 7 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after buying an additional 7 shares in the last quarter. Finally, Savant Capital LLC grew its position in MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.7 %

Shares of MELI opened at $2,191.30 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The stock has a fifty day moving average of $2,014.23 and a two-hundred day moving average of $1,972.78. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $111.09 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $2,402.81.

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.