Quantinno Capital Management LP Buys 451 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Quantinno Capital Management LP raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,652 shares of the company’s stock after acquiring an additional 451 shares during the period. Quantinno Capital Management LP’s holdings in MercadoLibre were worth $7,494,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MELI. International Assets Investment Management LLC boosted its holdings in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth approximately $2,913,000. FMR LLC grew its holdings in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. Swedbank AB increased its position in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MELI shares. Wedbush reissued an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Morgan Stanley dropped their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,984.95 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business’s 50 day simple moving average is $2,009.14 and its two-hundred day simple moving average is $1,874.33. The stock has a market capitalization of $100.64 billion, a P/E ratio of 70.04, a price-to-earnings-growth ratio of 1.31 and a beta of 1.57.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

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.