Quadrature Capital Ltd Has $45.05 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Quadrature Capital Ltd cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 34.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,956 shares of the company’s stock after selling 11,577 shares during the period. MercadoLibre comprises approximately 1.0% of Quadrature Capital Ltd’s investment portfolio, making the stock its 24th biggest position. Quadrature Capital Ltd’s holdings in MercadoLibre were worth $45,049,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC increased its holdings in shares of 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 buying an additional 70,154 shares in the last quarter. FMR LLC increased its holdings in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of MercadoLibre by 17.0% during the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after buying an additional 40,361 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of MercadoLibre by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock worth $424,745,000 after buying an additional 27,832 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. BTIG Research reduced their price objective on shares of 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. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Performance

Shares of MELI opened at $1,987.43 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $100.76 billion, a P/E ratio of 70.13, a price-to-earnings-growth ratio of 1.31 and a beta of 1.57. The firm’s fifty day simple moving average is $2,011.44 and its two-hundred day simple moving average is $1,873.56. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

Insider Transactions at MercadoLibre

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 transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

MercadoLibre Company 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.