Worldquant Millennium Advisors LLC acquired a new position in shares of Mercadolibre Inc (NASDAQ:MELI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 98,420 shares of the company’s stock, valued at approximately $60,210,000. Mercadolibre comprises about 1.1% of Worldquant Millennium Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Worldquant Millennium Advisors LLC owned 0.20% of Mercadolibre as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in Mercadolibre by 6.1% during the second quarter. Janus Henderson Group PLC now owns 123,705 shares of the company’s stock worth $75,679,000 after buying an additional 7,149 shares in the last quarter. Mackenzie Financial Corp increased its position in Mercadolibre by 123.0% during the second quarter. Mackenzie Financial Corp now owns 16,736 shares of the company’s stock worth $10,239,000 after buying an additional 9,230 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Mercadolibre by 21.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,962 shares of the company’s stock worth $1,504,000 after buying an additional 526 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Mercadolibre by 32.8% during the second quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after buying an additional 665 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in Mercadolibre during the second quarter worth $327,000. 81.50% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:MELI traded down $2.24 during midday trading on Tuesday, reaching $537.85. The company’s stock had a trading volume of 36,479 shares, compared to its average volume of 440,249. The firm has a market cap of $27.24 billion, a price-to-earnings ratio of -655.90 and a beta of 1.71. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. Mercadolibre Inc has a 1 year low of $257.52 and a 1 year high of $698.98. The business has a 50 day moving average price of $596.55 and a 200 day moving average price of $571.61.
Several equities analysts have weighed in on the company. Goldman Sachs Group set a $713.00 price target on Mercadolibre and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised Mercadolibre from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $563.00 to $750.00 in a research report on Tuesday, August 13th. Credit Suisse Group raised their price target on Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $609.00 to $729.00 in a research report on Thursday, August 8th. Finally, BTIG Research raised Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 price objective for the company in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Mercadolibre has a consensus rating of “Buy” and an average price target of $665.69.
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
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