CX Institutional purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 115 shares of the company’s stock, valued at approximately $224,000.
Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in shares of MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company’s stock worth $536,411,000 after purchasing an additional 173,449 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of MercadoLibre during the 1st quarter worth about $139,000. Atwood & Palmer Inc. raised its holdings in MercadoLibre by 82.8% in the 1st quarter. Atwood & Palmer Inc. now owns 17,008 shares of the company’s stock valued at $33,180,000 after acquiring an additional 7,706 shares during the last quarter. Petredis Investment Advisors LLC raised its holdings in MercadoLibre by 5.6% in the 1st quarter. Petredis Investment Advisors LLC now owns 2,433 shares of the company’s stock valued at $4,746,000 after acquiring an additional 130 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in MercadoLibre by 43.8% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 1,107 shares of the company’s stock valued at $2,160,000 after acquiring an additional 337 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Stock Performance
NASDAQ:MELI opened at $2,371.98 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,550.00 and a fifty-two week high of $2,635.88. 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 company has a 50 day moving average price of $2,340.95 and a 200 day moving average price of $2,074.58. The stock has a market capitalization of $120.25 billion, a P/E ratio of 62.92, a PEG ratio of 1.12 and a beta of 1.51.
Analyst Upgrades and Downgrades
A number of research firms have commented on MELI. Morgan Stanley reiterated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an “overweight” rating for the company in a report on Wednesday. Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. Wall Street Zen upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,632.50.
Check Out Our Latest Stock Analysis on MELI
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.
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