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

Quantinno Capital Management LP lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,652 shares of the company’s stock after purchasing 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 large investors have also recently modified their holdings of the stock. Jennison Associates LLC lifted its holdings in MercadoLibre by 3.9% in 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 during the period. FMR LLC lifted its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the period. Legal & General Group Plc boosted its position 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 valued at $531,755,000 after purchasing an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after purchasing an additional 40,361 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in MercadoLibre by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock worth $424,745,000 after purchasing an additional 27,832 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on 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 transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,984.95 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a market capitalization of $100.64 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 1.31 and a beta of 1.57. The stock has a 50-day moving average of $2,009.14 and a 200 day moving average of $1,874.33.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MELI shares. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley cut their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.