GSA Capital Partners LLP Trims Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

GSA Capital Partners LLP lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 675 shares of the company’s stock after selling 408 shares during the quarter. GSA Capital Partners LLP’s holdings in MercadoLibre were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP purchased a new position in shares of MercadoLibre during the 2nd quarter worth $43,000. Finally, NBC Securities Inc. boosted its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MELI shares. The Goldman Sachs Group increased their target price 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. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday. Three investment 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 company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,930.95 on Thursday. 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 business’s 50-day simple moving average is $2,044.19 and its 200 day simple moving average is $1,836.97. The company has a market cap of $97.90 billion, a P/E ratio of 68.14, a PEG ratio of 1.34 and a beta of 1.61.

MercadoLibre 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.