Quotient Wealth Partners LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Quotient Wealth Partners LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. First PREMIER Bank purchased a new position in shares of MercadoLibre in the first quarter worth approximately $27,000. Financial Connections Group Inc. bought a new stake in MercadoLibre during the second quarter valued at approximately $36,000. Scarborough Advisors LLC bought a new position in MercadoLibre in the fourth quarter worth approximately $36,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $38,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,040.50 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a 50 day simple moving average of $1,997.57 and a two-hundred day simple moving average of $1,737.60. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73. The stock has a market cap of $103.45 billion, a price-to-earnings ratio of 73.74, a PEG ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 43.52% and a net margin of 8.03%. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.16 EPS. As a group, analysts predict that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MELI. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a research report on Monday. Morgan Stanley boosted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, BTIG Research increased their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target 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.