MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 67.7% in the third quarter, HoldingsChannel reports. The firm owned 696 shares of the company’s stock after purchasing an additional 281 shares during the quarter. Empower Advisory Group LLC’s holdings in MercadoLibre were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares in the last quarter. SageView Advisory Group LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth $661,000. Kingsview Wealth Management LLC raised its stake in shares of MercadoLibre by 5.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock worth $552,000 after buying an additional 18 shares in the last quarter. Blair William & Co. IL raised its stake in shares of MercadoLibre by 3.5% in the 1st quarter. Blair William & Co. IL now owns 2,054 shares of the company’s stock worth $3,106,000 after buying an additional 70 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its stake in shares of MercadoLibre by 56.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock worth $1,155,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.3 %

MELI stock opened at $1,930.95 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market cap of $97.90 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. 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 quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group boosted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

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.