State Board of Administration of Florida Retirement System Has $23.29 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

State Board of Administration of Florida Retirement System grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 329.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,366 shares of the company’s stock after purchasing an additional 14,091 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in MercadoLibre were worth $23,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the third quarter worth about $767,000. Pathstone Family Office LLC lifted its holdings in shares of MercadoLibre by 38.8% in the third quarter. Pathstone Family Office LLC now owns 2,626 shares of the company’s stock worth $3,329,000 after buying an additional 734 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of MercadoLibre by 5.1% in the third quarter. D.A. Davidson & CO. now owns 2,559 shares of the company’s stock worth $3,245,000 after buying an additional 124 shares in the last quarter. Sepio Capital LP lifted its holdings in shares of MercadoLibre by 22.6% in the third quarter. Sepio Capital LP now owns 922 shares of the company’s stock worth $1,169,000 after buying an additional 170 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of MercadoLibre by 11.0% in the third quarter. Janney Montgomery Scott LLC now owns 5,047 shares of the company’s stock worth $6,399,000 after buying an additional 502 shares in the last quarter. Institutional investors own 80.01% of the company’s stock.

MercadoLibre Trading Up 0.5 %

MELI stock opened at $1,742.26 on Friday. The company has a market capitalization of $88.09 billion, a PE ratio of 89.16, a price-to-earnings-growth ratio of 1.17 and a beta of 1.52. MercadoLibre, Inc. has a one year low of $1,063.02 and a one year high of $1,800.09. The company’s 50 day moving average price is $1,643.29 and its two-hundred day moving average price is $1,436.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.27.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. Wedbush increased their price target on shares of MercadoLibre from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a report on Wednesday, December 27th. Citigroup raised their target price on shares of MercadoLibre from $1,550.00 to $1,900.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. StockNews.com raised shares of MercadoLibre from a “hold” rating to a “buy” rating in a research note on Friday. Susquehanna raised their target price on shares of MercadoLibre from $1,625.00 to $1,850.00 and gave the company a “positive” rating in a research note on Tuesday, November 28th. Finally, Bank of America raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 target price on the stock in a research note on Monday, November 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $1,752.50.

Get Our Latest Analysis on MELI

About MercadoLibre

(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.

Further Reading

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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