Quadrature Capital Ltd Sells 11,577 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Quadrature Capital Ltd lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 34.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 21,956 shares of the company's stock after selling 11,577 shares during the period. MercadoLibre makes up 1.0% of Quadrature Capital Ltd's portfolio, making the stock its 24th largest holding. Quadrature Capital Ltd's holdings in MercadoLibre were worth $45,049,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the second quarter valued at about $36,000. Legacy Bridge LLC increased its position in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after acquiring an additional 8 shares during the period. Finally, Quarry LP acquired a new stake in MercadoLibre in the 2nd quarter worth about $43,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th. StockNews.com lowered MercadoLibre from a "buy" rating to a "hold" rating in a report on Saturday, August 10th. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. cut their target price on 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. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,267.67.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

MercadoLibre Trading Down 0.3 %

Shares of MELI traded down $5.11 during mid-day trading on Thursday, reaching $1,982.32. 189,942 shares of the company were exchanged, compared to its average volume of 368,572. The business has a 50 day simple moving average of $2,011.44 and a two-hundred day simple moving average of $1,873.56. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market capitalization of $100.50 billion, a PE ratio of 70.13, a PEG ratio of 1.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

About MercadoLibre

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.