Northwest & Ethical Investments L.P. Purchases 201 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Northwest & Ethical Investments L.P. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,945 shares of the company’s stock after buying an additional 201 shares during the period. Northwest & Ethical Investments L.P.’s holdings in MercadoLibre were worth $20,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors increased its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC increased its stake in shares of 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. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded down $65.24 during trading hours on Thursday, hitting $2,044.76. The company’s stock had a trading volume of 282,307 shares, compared to its average volume of 369,615. The stock has a fifty day simple moving average of $2,024.62 and a 200-day simple moving average of $1,864.25. The company has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a PEG ratio of 1.43 and a beta of 1.61. 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 twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BTIG Research lowered their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.