New York Life Investment Management LLC Sells 89 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

New York Life Investment Management LLC lessened its stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 711 shares of the company’s stock after selling 89 shares during the quarter. New York Life Investment Management LLC’s holdings in MercadoLibre were worth $901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of MercadoLibre by 30.8% during the second quarter. EverSource Wealth Advisors LLC now owns 34 shares of the company’s stock worth $40,000 after buying an additional 8 shares in the last quarter. Savant Capital LLC boosted its position in shares of MercadoLibre by 4.0% during the 2nd quarter. Savant Capital LLC now owns 208 shares of the company’s stock valued at $246,000 after acquiring an additional 8 shares during the last quarter. Synergy Financial Group LTD boosted its position in shares of MercadoLibre by 0.5% during the 3rd quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock valued at $2,030,000 after acquiring an additional 8 shares during the last quarter. Analyst IMS Investment Management Services Ltd. boosted its position in shares of MercadoLibre by 1.3% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 691 shares of the company’s stock valued at $809,000 after acquiring an additional 9 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of MercadoLibre by 7.4% during the 3rd quarter. Contravisory Investment Management Inc. now owns 130 shares of the company’s stock valued at $165,000 after acquiring an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 80.01% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of several recent research reports. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, December 28th. Bank of America raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price target on the stock in a research report on Monday, November 27th. Wedbush upped their target price on shares of MercadoLibre from $1,700.00 to $1,800.00 and gave the company an “outperform” rating in a research report on Wednesday, December 27th. Citigroup increased their target price on shares of MercadoLibre from $1,550.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, Susquehanna increased their target price on shares of MercadoLibre from $1,625.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Tuesday, November 28th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,752.50.

Read Our Latest Stock Analysis on MercadoLibre

MercadoLibre Stock Up 0.2 %

Shares of NASDAQ:MELI opened at $1,713.87 on Thursday. The firm’s 50 day moving average price is $1,639.23 and its 200 day moving average price is $1,428.66. The stock has a market cap of $86.65 billion, a price-to-earnings ratio of 87.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.52. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,800.09. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.80.

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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