Strategy Asset Managers LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Strategy Asset Managers LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,898 shares of the company’s stock, valued at approximately $3,895,000.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Migdal Insurance & Financial Holdings Ltd. lifted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors raised its stake in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre during the second quarter worth $36,000. Quarry LP purchased a new position in MercadoLibre in the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC increased its stake in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MELI. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Citigroup boosted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. 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 target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Three 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,916.51 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a market capitalization of $97.17 billion, a price-to-earnings ratio of 67.63, a PEG ratio of 1.28 and a beta of 1.61. The business has a 50-day moving average of $2,033.32 and a 200-day moving average of $1,851.27.

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.