Westfield Capital Management Co. LP Makes New $429,000 Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Westfield Capital Management Co. LP bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, Holdings Channel reports. The fund bought 209 shares of the company’s stock, valued at approximately $429,000.

Several other hedge funds also recently modified their holdings of MELI. International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre in the 2nd quarter valued at about $2,913,000. Manning & Napier Advisors LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $121,137,000. Swedbank AB boosted its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. Citigroup increased their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, 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 note on Thursday, August 8th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,099.95 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market cap of $106.46 billion, a P/E ratio of 74.10, a P/E/G ratio of 1.37 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock’s 50-day simple moving average is $2,025.06 and its 200 day simple moving average is $1,860.05.

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.