MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lowered by ING Groep NV

ING Groep NV cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,539 shares of the company’s stock after selling 1,058 shares during the period. ING Groep NV’s holdings in MercadoLibre were worth $7,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MELI. Kingsview Wealth Management LLC grew its stake in MercadoLibre by 5.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 365 shares of the company’s stock valued at $552,000 after acquiring an additional 18 shares in the last quarter. Blair William & Co. IL lifted its position in 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. Orion Portfolio Solutions LLC boosted its stake in shares of MercadoLibre by 56.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company’s stock valued at $1,155,000 after buying an additional 275 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of MercadoLibre by 9.6% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 148 shares of the company’s stock valued at $224,000 after acquiring an additional 13 shares in the last quarter. Finally, Banco Santander S.A. increased its stake in shares of MercadoLibre by 118.6% in the first quarter. Banco Santander S.A. now owns 1,080 shares of the company’s stock worth $1,633,000 after acquiring an additional 586 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday. Wedbush reissued an “outperform” rating and issued a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Three investment 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Up 0.2 %

NASDAQ MELI opened at $1,880.00 on Friday. 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 $95.32 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.31 and a beta of 1.61. The stock’s 50 day moving average is $2,039.73 and its two-hundred day moving average is $1,837.90. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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.