QRG Capital Management Inc. Buys Shares of 142 MercadoLibre, Inc. (NASDAQ:MELI)

QRG Capital Management Inc. purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 142 shares of the company’s stock, valued at approximately $223,000.

A number of other large investors also recently modified their holdings of the business. Jump Financial LLC increased its stake in MercadoLibre by 94.4% during the 4th quarter. Jump Financial LLC now owns 3,697 shares of the company’s stock valued at $5,810,000 after buying an additional 1,795 shares during the period. Dana Investment Advisors Inc. lifted its position in MercadoLibre by 10.0% in the fourth quarter. Dana Investment Advisors Inc. now owns 508 shares of the company’s stock worth $798,000 after purchasing an additional 46 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in MercadoLibre by 7.7% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 3,469 shares of the company’s stock valued at $5,452,000 after purchasing an additional 247 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of MercadoLibre during the 4th quarter valued at $236,000. Finally, Mount Lucas Management LP raised its stake in shares of MercadoLibre by 36.1% in the 4th quarter. Mount Lucas Management LP now owns 566 shares of the company’s stock worth $889,000 after buying an additional 150 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a report on Friday, May 3rd. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Citigroup cut their price objective on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Barclays lifted their target price on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,881.92.

MercadoLibre Price Performance

Shares of MELI opened at $1,772.07 on Wednesday. The business’s 50-day moving average is $1,535.76 and its 200-day moving average is $1,582.88. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The company has a market capitalization of $89.84 billion, a price-to-earnings ratio of 79.29, a P/E/G ratio of 1.18 and a beta of 1.45. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the firm earned $3.97 EPS. The company’s revenue was up 36.0% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 33.96 EPS for the current fiscal year.

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.