First Mercantile Trust Co. Invests $106,000 in DLocal Limited (NASDAQ:DLO)

First Mercantile Trust Co. purchased a new position in shares of DLocal Limited (NASDAQ:DLO) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,017 shares of the company’s stock, valued at approximately $106,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC bought a new stake in shares of DLocal during the 2nd quarter worth about $53,015,000. Baillie Gifford & Co. acquired a new position in shares of DLocal during the 2nd quarter worth about $42,024,000. Wafra Inc. acquired a new position in shares of DLocal during the 2nd quarter worth about $38,529,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of DLocal during the 2nd quarter worth about $8,300,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of DLocal during the 2nd quarter worth about $4,672,000. Institutional investors own 67.17% of the company’s stock.

DLO has been the subject of several recent research reports. Bank of America initiated coverage on DLocal in a report on Monday, June 28th. They issued a “buy” rating and a $55.00 price target for the company. JPMorgan Chase & Co. began coverage on DLocal in a report on Monday, June 28th. They issued a “neutral” rating and a $48.00 price target for the company. began coverage on DLocal in a report on Monday, June 28th. They issued a “neutral” rating and a $50.00 target price for the company. Morgan Stanley began coverage on DLocal in a report on Monday, June 28th. They issued an “overweight” rating and a $72.00 target price for the company. Finally, New Street Research began coverage on DLocal in a report on Friday, August 6th. They issued a “neutral” rating and a $50.00 target price for the company. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.50.

DLO stock opened at $64.38 on Friday. The company has a fifty day moving average of $55.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.73. DLocal Limited has a twelve month low of $29.57 and a twelve month high of $73.43.

DLocal (NASDAQ:DLO) last posted its quarterly earnings results on Tuesday, August 17th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The company had revenue of $59.00 million during the quarter, compared to analyst estimates of $40.70 million. DLocal’s quarterly revenue was up 186.4% on a year-over-year basis. On average, analysts expect that DLocal Limited will post 0.26 earnings per share for the current fiscal year.

About DLocal

DLocal Limited operates a payments platform worldwide. Its platform enables enterprise merchants to connect with consumers in emerging markets, accept payments, send payouts, and settle funds. The company serves customers in various industries, such as SaaS, shared economy and marketplaces, online retail, digital media, financial services, and travel and tourism.

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Institutional Ownership by Quarter for DLocal (NASDAQ:DLO)

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