Victory Capital Management Inc. Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Victory Capital Management Inc. cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,047 shares of the company’s stock after selling 167 shares during the period. Victory Capital Management Inc.’s holdings in MercadoLibre were worth $49,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Belpointe Asset Management LLC increased its holdings in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in shares of MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after buying an additional 6 shares during the last quarter. Finally, Hilltop National Bank increased its holdings in shares of MercadoLibre by 14.3% in the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI opened at $1,880.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $95.32 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The firm’s fifty day simple moving average is $2,039.73 and its two-hundred day simple moving average is $1,837.90.

Analysts Set New Price Targets

Several equities analysts recently commented on MELI shares. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Finally, Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned 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 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.