Headlands Technologies LLC Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Headlands Technologies LLC acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,631 shares of the company’s stock, valued at approximately $2,563,000. MercadoLibre accounts for approximately 0.8% of Headlands Technologies LLC’s portfolio, making the stock its 20th biggest position.

A number of other hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in MercadoLibre by 19.3% in the 3rd quarter. IFP Advisors Inc now owns 216 shares of the company’s stock worth $274,000 after purchasing an additional 35 shares in the last quarter. Impact Partnership Wealth LLC lifted its holdings in MercadoLibre by 118.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock worth $44,000 after purchasing an additional 19 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in MercadoLibre by 0.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 21,943 shares of the company’s stock worth $27,821,000 after purchasing an additional 96 shares in the last quarter. Simplicity Solutions LLC lifted its holdings in MercadoLibre by 6.4% in the 3rd quarter. Simplicity Solutions LLC now owns 975 shares of the company’s stock worth $1,236,000 after purchasing an additional 59 shares in the last quarter. Finally, Proffitt & Goodson Inc. purchased a new position in MercadoLibre in the 3rd quarter worth approximately $32,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MELI. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a report on Tuesday, April 23rd. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Wedbush decreased their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Susquehanna upped their price objective on MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $1,790.36.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,406.00 on Friday. The company has a market cap of $71.28 billion, a P/E ratio of 71.95, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The business’s 50 day moving average price is $1,523.37 and its 200-day moving average price is $1,530.57. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The business’s revenue for the quarter was up 42.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.25 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 34.46 earnings per share for the current year.

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.